Okada Manila casino, at centre of ownership dispute, gets more visitors
Monday 11 de July 2022 / 12:23
⏱ 2 min read
(Manila).- Okada Manila, the Philippine casino at the centre of a bitter dispute about its ownership, saw a pick up in visitors in June from the month before, management said.
Foot traffic climbed 8per cent from May and was around 74per cent of its pre-pandemic level, it said in a statement, adding the casino planned to open more shops and add entertainment attractions.
"With the economy and borders opening up, Okada Manila is expected to sustain the momentum," management said in the statement as it held its first news conference since it took physical control of the casino on May 31.
Filipino associates of Japanese tycoon Kazuo Okada seized the US$3.3 billion casino, which is owned by Tiger Resort, Leisure & Entertainment, ousting its previous management with the help of private security guards and local police.
The move came after the Philippines' Supreme Court in April issued a "status quo ante order", reinstating Okada, who had been ousted in 2017, as CEO of the casino-resort.
Tiger Resort's ousted board has sued Okada's group, accusing it of using "brute force and intimidation" in a "violent" takeover of the property, and has also appealed the court decision.
Norman Golez, Okada's lawyer, told Monday's news conference the May 31 takeover was legal and peaceful.
The ousted board reiterated on Monday that it was in fact "a violent takeover".
Tiger Resort, owned by Japan's Universal Entertainment Corp, said Okada Manila's growth was driven by a recovery plan developed by previous officials, and influenced by the pent-up demand for leisure activities. Okada was also ousted from Universal's board in 2017.
Universal has agreed to merge Okada Manila with 26 Capital Acquisition Corp, a Nasdaq-listed blank check firm, for US$2.5 billion and has extended its deadline for the merger to Sept. 30 in the wake of the takeover of the property.
26 Capital has said it believes Universal will be back in control of Okada Manila soon.
The 44-hectare (108-acre) Okada Manila started operations late in 2016. With 993 suites and villas, 500 table games and 3,000 electronic gaming machines, it is the biggest of four multibillion-dollar casino-resorts operating in the capital of the Philippines, which has one of Asia's most freewheeling gaming industries.
Categoría:Casino
Tags: Sin tags
País: Philippines
Event
GAT EXPO CARTAGENA 2026
24 de March 2026
Technology, AI and Traceability: Keys to the Future of Gaming at the GAT Expo Cartagena Suppliers Panel
(Cartagena de Indias, SoloAzar Exclusive).- Within GAT Expo Cartagena 2026, technology sector leaders analyzed the challenges and opportunities of the gaming industry during the panel “Innovation, Traceability and Control”.
Tuesday 31 Mar 2026 / 12:00
Gamification with Purpose: Andrés Blanco Explains How to Drive Real Engagement at GAT Expo Cartagena
(Cartagena de Indias, SoloAzar Exclusive).- At GAT Expo Cartagena 2026, one of Latin America’s most important gaming industry events, Andrés Blanco, Managing Director and Chief Product Officer at Gamanza Engage, shared his vision of how gamification can become a strategic tool to foster genuine user engagement.
Monday 30 Mar 2026 / 12:00
Nevada’s Regulatory Model, Taxation Challenges and Prediction Markets Take Center Stage at GAT Expo Cartagena
(Cartagena de Indias, SoloAzar Exclusive).- During a high-level fireside chat at GAT Expo Cartagena 2026, Brian Krolicki, Vice Chairman of the Nevada Gaming Commission, and Rodrigo Afanador Carrasco, CEO of Zamba and General Manager of Grupo Vicca, explored key regulatory challenges shaping the global gaming industry, with a particular focus on Latin America.
Monday 30 Mar 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
