• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Universal Ent nods US$900 mln notes for Manila, debt

Jul 29, 2015 Newsdesk Japan, Latest News, Philippines, Top of the deck  


Universal Ent nods US$900 mln notes for Manila, debt

The board of Japanese gaming investment company Universal Entertainment Corp has approved the appointment of Deutsche Securities Inc, part of Deutsche Bank Group, as agent for placement of between US$600 million and US$900 million in offshore private notes.

The size of the placement will be dependent on demand, with an expected issue date of August 7 and a maturity of five years on the notes, said Universal Entertainment.

Funds raised will be used for “repayment of existing short-term debt and payment for construction and development of Manila Bay Resorts,” added Universal Entertainment, referring to a casino venue being built in the Philippines.

Billionaire gaming entrepreneur Kazuo Okada, who made his original fortune via Japan’s pachinko industry, controls Universal Entertainment. The firm had approximately JPY28.78 billion (US$232.9 million) in notes payable and short-term debt as of March 31, according to Financial Times data.

Another company controlled by Mr Okada – Tiger Resort, Leisure and Entertainment Inc – is currently building the Manila Bay Resorts casino and entertainment complex (pictured in an artist’s rendering) at Entertainment City, Manila.

Universal Entertainment said in its Tuesday filing: “By the establishment of Manila Bay Resorts, the company will create a new core business and intends to become a leading Asia Pacific gaming resort and leisure operator, which region has significant future growth potential, and [the company] believes [it] will help contribute to strong growth in the company’s enterprise value.”

The firm added it had chosen Deutsche Bank as placement agent because of its “deep and long-term understanding of the company’s business and a strong global track record of gaming and leisure resort business financings”.

Tiger Resort said in an email to GGRAsia on May 18 that as of that date it had committed approximately US$750 million to the Manila Bay Resorts project, with a further US$1 billion pending.

Tiger Resort also said in May it was aiming for a 2016 opening for the casino property. The firm will hold a topping-off ceremony on Thursday at Manila Bay Resorts’ first hotel.


  • tweet
Related articles
  • Macau ops all likely had negative 2Q EBITDA: JP Morgan
    Macau ops all likely had negative 2Q...

    Jul 04, 2022  

  • Universal hopes Okada Manila biz listed before Sept 30
    Universal hopes Okada Manila biz listed...

    Jun 30, 2022  

More news
  • Coughlan to exit as Wynn Macau Ltd president in February
    Coughlan to exit as Wynn Macau Ltd...

    Jul 06, 2022  

  • Fitch downgrades Crown, signs off on rating casino firm
    Fitch downgrades Crown, signs off on...

    Jul 06, 2022  


Latest News

Coughlan to exit as Wynn Macau Ltd president in February

Coughlan to exit as Wynn Macau Ltd president in February

Jul 06, 2022  

Macau casino operator Wynn Macau Ltd said on Wednesday that its long-serving president, Ian Coughlan (pictured), would be leaving his role in February next year. Linda Chen will take over as...
Read More
Fitch downgrades Crown, signs off on rating casino firm

Fitch downgrades Crown, signs off on rating casino firm

Jul 06, 2022  

Macau could launch gaming tender within days: JP Morgan

Macau could launch gaming tender within days: JP Morgan

Jul 06, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”As the Macau gaming revenue structure is now leaning heavily towards the mass business … once the border fully reopens, the recovery from mass should drive the sector to bounce more swiftly”

Vitaly Umansky, Louis Li and Shirley Yang

Analysts at Sanford C. Bernstein



Most Popular

  • Four Seasons Macao shops paused on Covid casesFour Seasons Macao shops paused on Covid cases July 4, 2022
  • GKL sees June casino sales up 34pct sequentiallyGKL sees June casino sales up 34pct sequentially July 4, 2022
  • Macau’s Grand Lisboa cordoned amid 13-case Covid clusterMacau’s Grand Lisboa cordoned amid 13-case Covid… July 5, 2022
  • Macau publishes amendment to public tender regulationMacau publishes amendment to public tender regulation July 5, 2022
  • Macau ops all likely had negative 2Q EBITDA: JP MorganMacau ops all likely had negative 2Q EBITDA: JP Morgan July 4, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us