Suntrust Resort Holdings Inc. said it tapped a $38 million loan from LET Holdings Ltd.
The loan will be payable in 10 years.
The loan follows a P25 billion loan the company tapped from China Banking Corp. and a $6 million loan tappedfrom Major Success Group Ltd. Major Success is the holding company of the LET Group.
Suntrust earlier said that it will open its casino complex – $1-billion Westside City Resorts – in the Bay Area Entertainment City next year, the fourth casino in the area.
Suntrust said that structural works and construction of the tower facade up in Westside City Resort have been completed, with technical, electrical and plumbing equipment currently being installed.
Westside City Resorts will have 475 hotel key, a 1,000-seat and 800-seat theaters, 281 gaming tables, 1,126 slot machines, and 134 electronic table games.
