International Game Technology (IGT) has secured a lucrative $5.3 million tender to supply and service gaming equipment for a new hotel casino in Manila, Philippines. The project is owned by Macau-based LET Group Holdings Ltd, with one of its sub-brands, Suntrust Resort Holdings Inc., being the exclusive operator and manager of the upcoming Westside City Phase 1 hotel casino in Manila’s Entertainment City zone.
The deal, confirmed by LET, was backdated to Friday and marks a significant milestone for IGT in the Asian market. LET highlighted IGT’s extensive experience in the industry, the superior functionality of its products, and the competitive pricing of its tender as key factors that led to the company winning the bid. Additionally, IGT’s track record of successful project implementations in various countries, including Macau, Australia, Vietnam, and the Philippines, played a crucial role in securing the Manila deal.
Under the agreement, a Singapore-registered sub-brand of IGT will provide Suntrust with a range of equipment, software, and services, including a casino management system, mobile casino management software licenses, table manager software, cashless gaming licenses, and consulting services. This comprehensive package ensures that the Manila hotel casino will comply with all government and regulatory requirements, setting the stage for a successful launch in 2025.
While LET celebrates the successful partnership with IGT in Manila, the company also faces challenges with its Russian operation, Summit Ascent Holdings Ltd. The Tigre de Cristal Resort & Casino in Vladivostok, Russia, operated by Summit, is experiencing difficulties due to the ongoing Russia-Ukraine conflict and associated sanctions. As a result, LET has initiated legal proceedings to protect the interests of its independent minority shareholders, citing alleged misconduct by the controlling shareholder, Andrew Lo, who also serves as CEO and Chairman of the two firms.
Despite the challenges in Russia, LET remains optimistic about its future prospects, with the Manila project set to be a major milestone for the company’s expansion in the Asian gaming market. With IGT’s expertise and support, Suntrust’s Westside City Phase 1 hotel casino is poised to become a premier destination for gaming enthusiasts in the region.