{"id":189444,"date":"2021-10-19T11:33:58","date_gmt":"2021-10-19T18:33:58","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=189444"},"modified":"2021-10-19T12:01:55","modified_gmt":"2021-10-19T19:01:55","slug":"ader-says-okada-manila-could-pursue-japan-expansion","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/","title":{"rendered":"Okada Manila Considering Japan Expansion After SPAC Deal Closes"},"content":{"rendered":"

Fresh off announcing plans to merge with a special purpose acquisition company (SPAC), Okada Manila could be eyeing its next move: expanding in Japan, its parent company’s home country.<\/p>\n

\"Okada
Okada Manila could pursue expansion after its SPAC deal closes. Japan is a likely destination. (Image: Yahoo Finance<\/em>)<\/figcaption><\/figure>\n

Last Friday, Okada Manila, the world\u2019s only Japanese-owned integrated resort, said it’s merging with Jason Ader’s shell company 26 Capital (NASDAQ:ADER), paving the way for the casino operator to list its shares in the US. The company will trade on the Nasdaq<\/a> when the transaction with the blank-check firm closes in June 2022.<\/p>\n

Ader, who also runs investment firm SpringOwl Asset Management, confirmed Okada Manila will seek expansion opportunities in Japan.<\/p>\n

The company will own assets beyond the Philippines over the next several years,\u201d Ader said in an interview with Bloomberg<\/i>. \u201cThis company is not expecting to be just a single asset company in perpetuity.\u201d<\/p><\/blockquote>\n

Currently, Okada Manila is comprised of just that gaming venue in the Philippines. The only publicly traded casino operator in the US with a smaller number of venues is Monarch Casino & Resort (NASDAQ:MCRI), which owns two gaming properties<\/a>.<\/p>\n

Assessing Okada Manila Japan Prospects<\/h2>\n

Japan-based Universal Entertainment is Okada Manila’s parent company, so there are obvious ties to the world’s third-largest economy. But how the operator will fit in its home country’s still-emerging casino gaming landscape remains to be seen.<\/p>\n

\n

The approval process there is slow-moving. But it’s expected that next year, Japanese authorities will select as many as many as three cities to be homes to the country’s first integrated resorts. While new Prime Minister Fumio Kishida is supportive of casino gaming<\/a>, Okada Manila is behind competitors, at least when it comes to the initial trio of licenses.<\/p>\n<\/div>\n

Currently, just three prefectures — Nagasaki, Osaka, and Wakayama — are bidding, and each has declared intents to move forward with formidable partners. Osaka is teaming up with local financial services firm Orix and MGM Resorts International, while Casinos Austria is Nagasaki’s partner.<\/p>\n

Wakayama’s bid may have recently gotten a positive jolt when Caesars Entertainment (NASDAQ:CZR)<\/a> said it\u2019s joining Clairvest Neem Ventures K.K.\u2019s consortium.<\/p>\n

Other Opportunities<\/h2>\n

Ader adds Okada Manila could eventually pursue acquisition opportunities beyond Japan, but he declined to identify specific markets.<\/p>\n

He previously served on the board of Las Vegas Sands (NYSE:LVS) from 2009 through 2016, confirming an intimate knowledge of Asia’s gaming landscape. There is speculation that some gaming assets in the Asia-Pacific region could be on the market, but those rumors don’t involve Okada Manila.<\/p>\n

Ader\u2019s 26 Capital is providing up to $275 million in cash to Okada Manila through the blank-check transaction, and if its shares appreciate following the deal, it will have added currency with which to consider acquisitions. But it could take some time for such plans to come together.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Fresh off announcing plans to merge with a special purpose acquisition company (SPAC), Okada Manila could be eyeing its next move: expanding in Japan, its parent company’s home country. Last Friday, Okada Manila, the world\u2019s only Japanese-owned integrated resort, said it’s merging with Jason Ader’s shell company 26 Capital (NASDAQ:ADER), paving the way for the […]<\/p>\n","protected":false},"author":46,"featured_media":189445,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\nAder Says Okada Manila Could Pursue Japan Expansion<\/title>\n<meta name=\"description\" content=\"Okada Manila could consider expanding in Japan and elsewhere when it wraps up its SPAC deal in June 2022.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ader Says Okada Manila Could Pursue Japan Expansion\" \/>\n<meta property=\"og:description\" content=\"Okada Manila could consider expanding in Japan and elsewhere when it wraps up its SPAC deal in June 2022.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-19T18:33:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-19T19:01:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/10\/okada.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/\",\"url\":\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/\",\"name\":\"Ader Says Okada Manila Could Pursue Japan Expansion\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/10\/okada.jpg\",\"datePublished\":\"2021-10-19T18:33:58+00:00\",\"dateModified\":\"2021-10-19T19:01:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Okada Manila could consider expanding in Japan and elsewhere when it wraps up its SPAC deal in June 2022.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/ader-says-okada-manila-could-pursue-japan-expansion\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/10\/okada.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/10\/okada.jpg\",\"width\":1200,\"height\":675,\"caption\":\"Okada Manila could pursue expansion after its SPAC deal closes. 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