GGRAsia – Okada plans to list casino biz in Manila: report

Okada plans to list casino biz in Manila: report

Dec 22, 2016 Newsdesk Latest News, Philippines, Top of the deck

Gaming entrepreneur Kazuo Okada (pictured) is planning to list “his casino business” on the Philippine Stock Exchange in one year’s time, reported Philippine broadcaster ABS-CBN News Channel.

The report didn’t clarify if that was a reference to his Okada Manila casino venture – which had a preview opening on Wednesday – or some other part of his gaming business empire. Mr Okada’s other interests include a casino equipment maker that sells gaming machines under the Aruze brand.

The Philippine news outlet also reported – following an interview with Mr Okada – that he is seeking to hire approximately 20,000 Filipino workers over the next two years for his Okada Manila gaming resort.

The property – described as a US$2.4-billion venture – is expected to create up to 10,000 jobs for its first phase, reported the news outlet.

Okada Manila has a two-wing hotel with 993 rooms. It also includes restaurants, shops and a casino with up to 500 gaming tables and 3,000 electronic gaming machines, according to the project’s promoter.

Under an earlier plan for Okada Manila – a project originally under the working title Manila Bay Resorts – the casino property should have been completed by March 31, 2015. But the Philippine casino regulator approved in June 2015 a new timetable that pushed back the completion of the venue to December 31, 2016.