Okada plans to list casino biz in Manila: report

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

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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.

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