{"id":16441,"date":"2021-03-31T15:42:28","date_gmt":"2021-03-31T15:42:28","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16441"},"modified":"2026-04-23T20:41:42","modified_gmt":"2026-04-23T23:41:42","slug":"universal-entertainment-cancels-sale-of-land-close-to-okada-manila","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/universal-entertainment-cancels-sale-of-land-close-to-okada-manila","title":{"rendered":"Universal Entertainment cancels sale of land close to Okada Manila"},"content":{"rendered":"\n

The Japanese gaming conglomerate, which operates the Okada Manila casino, has abandoned the proposed sale after the Philippine government decided to restrict the entry of foreign visitors.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Universal Entertainment Corp<\/strong> has announced it has cancelled the intended sale of a plot of land close to the Okada Manila casino resort<\/strong> and will negotiate with other potential buyers.<\/p>\n\n\n\n

The company planned to sell 36,610 square metres (394,000 sq feet) of land near Okada Manila <\/strong>for approximately PHP13.18bn (US$271.6m).<\/p>\n\n\n\n

It had a prospective buyer but has decided to terminate the agreement<\/strong> after the Philippine government announced new countermeasures following a rise in Covid-19 cases,<\/p>\n\n\n\n

Universal Entertainment said: “The two parties were looking into agreeing [\u2026] However, it was difficult to negotiate the extension of the [settlement] period<\/strong> as there was no prospect of resuming economic activities in the future.\u201d<\/p>\n\n\n\n

Pagcor confirms casino closure in Metro Manila<\/h2>\n\n\n\n

The Philippine casino regulator has confirmed that Metro Manila casinos have closed their doors<\/a><\/em> due to a rise in Covid-19 cases.<\/p>\n\n\n\n

The Philippines Department of Health<\/strong> has reported 9,296 new cases of Covid-19 in the last 24 hours<\/strong>. The country ha reported 124,680 active cases.<\/p>\n\n\n\n

Hospitality, gaming and retail operations will be closed temporarily until April 4<\/strong> and foreign visitors are allowed<\/strong> to enter the country until April 19.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Japanese gaming conglomerate, which operates the Okada Manila casino, has abandoned the proposed sale after the Philippine government decided to restrict the entry of foreign visitors.<\/p>\n","protected":false},"author":176,"featured_media":16443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Universal Entertainment Corp. has terminated a PHP13.18bn (US$271.6m) land sale near its Okada Manila integrated resort, citing the Philippine government's new restrictions on foreign visitors and the temporary closure of Metro Manila casinos due to rising COVID-19 cases. This decision reflects significant operational and market uncertainty impacting asset divestment strategies and economic recovery prospects within the Philippine gaming vertical.","focusai_entities":"Universal Entertainment Corp, Okada Manila, Pagcor, Philippines Department of Health","focusai_location":"Philippines, Metro Manila","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Okada Manila Valuation","query":"What is the revised valuation outlook for Okada Manila and Universal Entertainment Corp. given the prolonged operational disruptions and cancelled asset divestment?"},{"label":"Regulatory Impact Analysis","query":"How might Pagcor's regulatory framework evolve to mitigate future operational risks stemming from public health crises or similar external shocks?"}],"footnotes":""},"categories":[157,158,16333],"tags":[8986,23686],"class_list":["post-16441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-okada-manila","tag-universal-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=16441"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16441\/revisions"}],"predecessor-version":[{"id":16470,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16441\/revisions\/16470"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16443"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}