Billionaire Enrique Razon Jr. is pulling out of a deal to invest in the Cebu and Clark casino projects of Davao-based tycoon Dennis A. Uy’s PH Resorts Group Holdings, causing shares of the latter to fall. | miguelrcamusINQ /PDI
Shares of PH Resorts, part of Uy’s Udenna Group, fell fell 5.88 percent to P0.80 each while Bloomberry rose 2.13 percent to P9.10 per share.
“This development gives [PH Resorts] the opportunity to reenter into discussions with other parties that were previously put into the backburner due to the contemplated investment by Bloomberry,” he added.
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