Duterte Ally to Revive Casino With Builder Backed by Marcos Kin

Philippine tycoon Dennis Uy is looking to partner with a construction company backed by a firm linked to the family of President Ferdinand Marcos Jr.’s cousin to finish the businessman’s stalled casino project.

Uy’s PH Resorts Group Holdings Inc. on Monday said its parent, Udenna Corp., entered into a memorandum of understanding with EEI Corp. for the development of the Emerald Bay Resort and Casino project in the central island of Cebu, according to a stock exchange filing.

Dennis Uy

Photographer: Geric Cruz/Bloomberg

Shares in PH Resorts plummeted as much as 25% in Manila trading, snapping a four-day winning streak. EEI rose as ...