26 Capital was suing<\/a> Universal Entertainment and affiliates linked to the casino resort, alleging they were intentionally dragging their feet on merger talks.<\/p>\nThrough its Tiger Resort Leisure & Entertainment Inc. affiliate, Universal also owns a majority stake in the Emerald Bay casino project in Cebu, but it\u2019s not yet clear if that on-hold project would be included in the Okada Manila IPO.<\/p>\n
Time Could Be Right for Okada Manila IPO<\/h2>\n Okada Manila could be validated in resuscitating IPO plans for a simple reason: it\u2019s profitable. In 2023, the venue\u2019s operating surged 280% while revenue increased 35.1%.<\/p>\n
\u201cThe number of visitors increased throughout 2023 and the volume of business increased in all categories,\u201d according to a regulatory filing issued by Universal.<\/strong><\/p>\nWhile Okada Manila\u2019s first-quarter results were pinched by a pullback among its VIP clients, the overall outlook for the Philippines casino gaming industry is bright and it\u2019s viewed as one of the better Asia-Pacific growth opportunities beyond Macau and Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"
Okada Manila, the Philippines casino resort controlled by Japan\u2019s Universal Entertainment, is reportedly mulling an initial public offering (IPO) that values the entity at $500 million to $750 million. Should Universal Entertainment proceed with those plans, it could list shares of the casino operator on the Philippine Stock Exchange (PSE) at some point next year. […]<\/p>\n","protected":false},"author":46,"featured_media":258474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10,1],"tags":[81913,81903,81967],"acf":[],"yoast_head":"\n
Okada Manila Mulling Philippines IPO<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n