Philippine gaming resort Okada Manila said on Wednesday it would be officially launching its casino operations on December 30, at 7pm. This follows the issuance of a notice to commence casino operations from the country’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor), on December 21.
The US$2.4-billion Okada Manila had a soft opening – referred to by the venue’s promoter as a “preview period” – on December 21. An official opening for the property will take place at the end of February 2017, according to a press released issued on Wednesday.
Under the terms of the deal with Pagcor, the casino operations will start under a provisional licence, with a permanent licence to be granted at a later stage.
Okada Manila is being developed by Philippines-based Tiger Resort, Leisure and Entertainment Inc, a subsidiary of Universal Entertainment. The latter is headed by Japanese gaming and pachinko entrepreneur Kazuo Okada.
The property has a two-wing hotel with 993 rooms. In addition to the casino (pictured in a rendering), it also includes restaurants, shops and meeting space. Okada Manila said in Wednesday’s press release that the opening of the hotel and additional restaurants would be announced in the coming weeks.
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”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia