Hann Resorts Delays P12 Billion IPO Until Mid-2025

Hann Resorts is relying on a rate cut by the US Federal Reserve in order to enhance the appeal of Asian investments.

Hann Resorts has postponed its planned P12 billion initial public offering (IPO) to mid-2025. The delay, initially set for later this year or early next year, comes in response to recent shifts in the US Federal Reserve’s policy.

According to unnamed sources of the Philippine Star, the delay is primarily due to Hann Resorts’ need for a more favorable economic environment to attract international investors. The company’s IPO is significant, which is why the source points out that “[HANN] needs the Fed to also cut rates so international investors will move to Asia.”

Dae Sik Han, a South Korean businessman and owner of Hann Resorts, is leading the company’s expansion efforts. Hann Resorts operates a casino resort in the Clark Freeport Zone, which includes 147 gaming tables, 868 slot machines, two VIP clubs, and two five-star hotels.

The company plans to use the postponement period to strengthen its valuation with strong earnings performance. It aims to secure new funding to support the expansion of its gaming operations and the development of the multi-billion dollar Hann Reserve.

Hann Resorts’ parent company, Hann Philippines, is also working on the Hann Reserve project, a 450-hectare luxury estate in Tarlac. This development could potentially cost up to $4 billion, reflecting the company’s ambitious growth strategy.

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