IGT Secures $5.3 Million Contract for Hotel Casino previously owned by Alvin Chau in Manila
In a significant development, International Game Technology (IGT) has secured a tender worth $5.3 million to supply and service gaming equipment for a new-build hotel casino owned by Macau-based LET Group Holdings Ltd in Manila, Philippines.
The winning bid is for one of LET Group's sub-brands, Suntrust Resort Holdings Inc. The deal will see IGT outfit Suntrust's Westside City Phase 1 hotel casino with its products, including casino management system, mobile casino management system software, speciality software, table manager software, cashless gaming licenses, tournament system software licenses, and connection licenses for floor systems.
IGT's success in the tender can be attributed to its vast experience in the field, the greatest functionality of its products, and because its tender was the second lowest among four other bidders. The company's experience in the Philippines ensures its equipment, software, and services will all comply with all government and regulatory requirements.
Suntrust will be the exclusive operator and manager of the Westside City hotel casino, which is scheduled to open in 2025. The company has yet to announce the name of the company that supplies consulting services for the equipment and maintenance of the casino in Westside City Phase 1 in Manila.
Meanwhile, the LET Group's Russian operation, Summit Ascent Holdings Ltd, is facing significant challenges and uncertainties due to the ongoing Russia-Ukraine conflict and associated sanctions. In a separate development, the SFC has initiated legal proceedings to seek a share repurchase order to protect the interests of LET and Summit's independent minority shareholders, alleging misconduct by Lo, the controlling shareholder, CEO, and Chairman of the two firms.
Despite these challenges, the LET Group continues to push forward with its expansion plans, with the Westside City hotel casino project being a testament to its resilience and commitment to growth. The partnership with IGT is expected to strengthen Suntrust's position in the Philippine gaming market and provide a superior gaming experience for its patrons.
