• 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 raising Okada Manila funds via share sales

Mar 10, 2017 Newsdesk Japan, Latest News, Philippines, Top of the deck  


Universal raising Okada Manila funds via share sales

Japanese firm Universal Entertainment Corp announced on Thursday two exercises for disposal of treasury shares, with the money raised to be spent on its Okada Manila casino resort in the Philippines.

Universal Entertainment said in a filing to the Tokyo Stock Exchange that its board had approved the disposal of 5.5 million treasury shares through an international offering outside Japan. The company’s board also approved the issuance of stock acquisition rights via a third-party allotment to Deutsche Bank AG.

The two exercises are expected in aggregate to generate more than JPY23 billion (US$199 million) for Universal Entertainment.

The firm said the net proceeds would be earmarked for subsidiary Tiger Resort, Leisure and Entertainment Inc, which operates Okada Manila (pictured). Tiger Resort would use the funds for “working capital necessary for carrying out its stable business operation at Okada Manila, personnel costs for increasing [the number of] employees, and proactive marketing activity for attracting high value customers and expanding overseas bases,” the company stated.

The US$2.4-billion Okada Manila had a soft opening on December 21, and officially launched its casino operations on December 30. The ‘grand opening’ of Okada Manila has been flagged by the scheme’s operator as at the “end of March”.

Okada Manila is said to have space for up to 500 gaming tables and 3,000 electronic gaming machines, according to the project’s promoter. It will also have a two-wing hotel with 993 rooms.


  • tweet
Related articles
  • Fitch flags Universal Ent founder spat, upgrade on Manila IR
    Fitch flags Universal Ent founder spat,...

    May 20, 2022  

  • Order to restore Kazuo Okada unclear, vague: Tiger Resort
    Order to restore Kazuo Okada unclear,...

    May 18, 2022  

More news
  • Foreign tourists can get S.Korean peninsula visa from June 1
    Foreign tourists can get S.Korean...

    May 20, 2022  

  • Crown Resorts’ shareholders nod Blackstone bid
    Crown Resorts’ shareholders nod...

    May 20, 2022  


Latest News

Foreign tourists can get S.Korean peninsula visa from June 1

Foreign tourists can get S.Korean peninsula visa from June 1

May 20, 2022  

South Korea on Thursday said it would from June 1 resume issuing short-term tourism visas for trips to the country’s mainland, for individual visitors and groups of tourists. Permits for...
Read More
Crown Resorts’ shareholders nod Blackstone bid

Crown Resorts’ shareholders nod Blackstone bid

May 20, 2022  

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

May 20, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”[Revenue at Okada Manila] will be around 80 percent of the pre-pandemic level in 2022 before recovering almost fully in 2023"

Satoru Aoyama, Akash Gupta and Kalai Pillay

Analysts at credit rating agency Fitch



Most Popular

  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
  • Melco to launch family attraction at Studio City in JuneMelco to launch family attraction at Studio City in June May 19, 2022
  • Bloomberry plans 3rd Philippine casino, coastal near ManilaBloomberry plans 3rd Philippine casino, coastal near Manila May 19, 2022
  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us