I cannot say just American expats but westerners hang out at Time out restaurant and bar Address: 301 F. Ramos St, Cebu City, 6000 Cebu, Philippines Phone: +63 32 239 5029
The SandTrap,now called the Banilad Sports Club
http://baniladsportsclub.com.ph/There is a large group of mixed expats that does short mat bowling at Emerald Isles bar and restaurant Address: Piazza Elisia, Gov. M. Cuenco Ave, Gov. M. Cuenco Ave, Cebu City, Cebu, Philippines Phone: +63 32 421 3255
El Gecko bar Address: Ground Floor, Gotiong Building, Gen. Maxilom corner D. Jakosalem Street, Cebu City, Cebu, Philippines
Phone: +63 32 416 4983
Our Place Restaurant and Bar Pelaez St, Cebu City, Cebu, Philippines Phone: +63 32 416 8243
William Ninoy's Payag which is right across the street from Cebu Lex Hotel, Address:312 Juana Osmeņa St, Cebu City, Cebu, Philippines
Many hang out in Ayala Mall at the coffee shops and restaurants on the terraces, I often meet up with some for coffee at the Bo's coffee on the terraces, the smoking guys hang out upstairs at Social, since smoking is no longer allowed all over the mall.
I do not go to most of the bars because of my damaged lungs so I tend to stay away from places with smoking, so I only know about most of those places from having been to them one or a few times in years past.
Hope that helps, hope some more members will kick in with some more current places.