US$600-mln bond listing for Okada’s Universal in Singapore
Japanese gaming investment company Universal Entertainment Corp is to list US$600-million worth of bonds on the bond market of the Singapore Exchange (SGX) with effect from 9am on Tuesday.
The company said so in a filing to SGX on Monday. The corporate notes – in denominations of US$250,000 each – will bear interest of 12 percent and are due in 2020.
The principal paying agent for the bonds – which are to be quoted and traded in U.S. dollars – is Deutsche Bank AG in Hong Kong.
Universal Entertainment had said in a filing to the Jasdaq exchange in Japan in late July that it intended to place between US$600 million and US$900 million in offshore private notes, with the size of the placement dependent on demand.
Funds raised would 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 (pictured) being built in the Philippines.
Billionaire gaming entrepreneur Kazuo Okada, who made his original fortune via Japan’s pachinko industry, controls Universal Entertainment.
Another company controlled by Mr Okada – Tiger Resort, Leisure and Entertainment Inc – is currently building Manila Bay Resorts. Tiger Resort in late July said it aimed to open the venue – described as an approximately US$2-billion project – in 2016.
Latest News
G2E Asia 2023: Singapore
-
Jackpot tech focus on tables not just slots: Paltronics Commercial opportunities for utilisation of... -
Konami taps market-tried slots to refresh Asia op offer Gaming content and equipment maker Konami says it is... -
L&W building game content across 3 pillars: Ken Jolly Casino gaming content and hardware provider Light &... -
ETGs rapid growth segment in Asia: Interblock Michael Hu Electronic table games (ETGs) supplier Interblock dd is... -
GLI offering RNG test tools, cybersecurity demand growing Random number generator (RNG) testing tools are among the... -
Alfastreet’s new Verso cabinet heading to Asian markets Alfastreet, a manufacturer of electronic gaming machines,... -
Sega Sammy Creation growing land-based, eyes online Casino equipment maker Sega Sammy Creation Inc is tweaking... -
iGaming growing in Asia, ops tackling challenges: Uplatform The iGaming segment in Asia “has grown rapidly” since... -
‘See before you play’ slot marketing tool, say tech... Showing slot machine players – via animations on the... -
Macau stocks tied to China outlook: Bloomberg analyst Macau stocks in likelihood “have been punished too much... -
Investors still eye possible fresh IR locations in Japan:... There are foreign companies still interested in investing... -
Thai casino law possible in 2024, IR in 2030: govt adviser Thailand could pass the necessary enabling legislation for... -
China still ‘critical’ to Asian markets: G2E Asia panel China will remain a key market for Asian gaming... -
Much interest in state casinos sale, says Pagcor boss Alejandro Tengco (pictured in a file photo), chairman and... -
Gaming industry in for a very exciting period: Bill Miller There are “plenty of reasons” for the global gaming... -
IGT flags route to high-performing games for Asia Gaming equipment provider International Game Technology Plc... -
G2E Singapore trade show, conference begins today The Global Gaming Expo (G2E) Asia 2023 Special Edition:... -
Novomatic’s Black Edition II cabinets at G2E in Singapore Austria-based gaming equipment maker and operator Novomatic... -
Uplatform to show latest iGaming products at G2E Singapore Sports betting and online casino operating platform... -
L&W ambition to be No1 in Asia well on its way: SVP... The business performance in Asia of gaming content and... -
G2E Singapore expecting 6k visitors, 100+ exhibitors The organisers of Global Gaming Expo (G2E) Asia 2023... -
‘Dragon Unleashed’ slot link by L&W at G2E in... Gaming content and equipment supplier Light & Wonder... -
Sega Sammy Creation new multi-ETG at G2E in Singapore Casino equipment maker Sega Sammy Creation Inc is to... -
Aristocrat at G2E Asia in Singapore previews Year of Dragon Casino slot machine and digital gaming content provider... -
IGT ‘Prosperity’ link in Asia show debut G2E in... The Global Gaming Expo (G2E) Asia event in Singapore is the... -
Thai parliament adviser on casinos attending G2E Singapore An adviser to a Thailand parliamentary committee mulling...
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
China Politburo meeting key for any policy shift: UBS June 7, 2023 
No Macau op yet asked GGR tax rate exemption: govt June 9, 2023 
Suntrust to get up to US$446mln loan from local bank June 9, 2023
