Duterte Ally Eyes Casino Partner in Marcos Kin-Backed Builder

Bloomberg12-09

(Bloomberg) -- 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’...

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EEI rose as much as 6%.It’s the latest attempt by Uy, an ally of former leader Rodrigo Duterte, to fund and complete the integrated resort, once estimated to cost around $465 million. His previous efforts to hammer out deals with billionaire Enrique Razon and a unit of Japan’s Universal Entertainment Corp. have failed.EEI is partly held by RYM Business Management Corp., which is owned by the family of House of Representatives Speaker Martin Romualdez, a cousin of Marcos.Representatives for EEI and Romualdez didn’t immediately respond to requests for comment.The MOU paves the way for EEI to execute an agreement with PH Resorts and its units to finance, construct and complete the Emerald Bay project, the filing said. 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