{"id":31353,"date":"2022-07-01T05:36:25","date_gmt":"2022-07-01T08:36:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=31353"},"modified":"2026-04-23T07:14:29","modified_gmt":"2026-04-23T10:14:29","slug":"universal-plans-to-merge-with-26-capital-by-september-30","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/universal-plans-to-merge-with-26-capital-by-september-30","title":{"rendered":"Universal plans to merge with 26 Capital by September 30"},"content":{"rendered":"\n<p>Universal Entertainment Group has extended the deadline to merge with 26 Capital Acquisition Corp.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.-\u00a0<strong>Universal Entertainment Corp<\/strong> has announced that it has extended the June 30 deadline for its merger with 26 Capital Acquisition Corp by three months to gain time to submit risk information in a registration statement with the US Securities and Exchange Commission.\u00a0<\/p>\n\n\n\n<p>The merger is intended to allow Universal to list on the Nasdaq and combine Universal with its Philippine subsidiary Tiger Resorts Asia, which controlled Okada Manila before\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/controversy-surrounds-kazuo-okadas-return-to-okada-manila\" target=\"_blank\">the return of Kazuo Okada<\/a> (the cause of the delay to the merger).<\/p>\n\n\n\n<p>Once the framework conditions are in place, the company hopes to complete the merger before the new deadline of September 30.<\/p>\n\n\n\n<p>Universal Entertainment has announced\u00a0<strong>a formal indictment against Kazuo Okada<\/strong>\u00a0and his associates Antonion Cojuangco and Dindo Espeleta for the violent takeover of the Okada Resort in Manila. The operator had reported that three Philippine banks <a href=\"https:\/\/focusgn.com\/asia-pacific\/universal-says-okada-manila-bank-accounts-frozen\">had frozen accounts<\/a> held by Okada Manila. However, Kazuo Okada&#8217;s group says all financial obligations are being met.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Universal Entertainment Group has extended the deadline to merge with 26 Capital Acquisition Corp.<\/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 Group has extended the deadline for its merger with 26 Capital Acquisition Corp by three months to September 30. This extension is to facilitate the submission of comprehensive risk information to the US SEC for a Nasdaq listing, with the delay primarily stemming from the ongoing governance dispute and alleged takeover of Okada Manila by Kazuo Okada.","focusai_entities":"Universal Entertainment Group, 26 Capital Acquisition Corp, US Securities and Exchange Commission, Tiger Resorts Asia, Okada Manila, Kazuo Okada, Antonion Cojuangco, Dindo Espeleta","focusai_location":"Philippines, Manila, United States","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.92), operator_casino (0.88), payments_fraud_aml (0.75), investor_analyst (0.98), supplier_vendor (0.78), journalist_researcher (0.95)","focusai_suggestions":[{"label":"SEC Risk Disclosure Details?","query":"What specific 'risk information' is the US SEC requiring that necessitated the merger deadline extension, beyond the publicly known governance dispute at Okada Manila?"},{"label":"Okada Manila Liquidity Impact?","query":"How do the reported frozen bank accounts impact Okada Manila's immediate operational liquidity and its ability to meet ongoing financial obligations, particularly concerning vendor payments and payroll?"}],"footnotes":""},"categories":[163,16333],"tags":[8986,23686],"class_list":["post-31353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-okada-manila","tag-universal-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31353","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=31353"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31353\/revisions"}],"predecessor-version":[{"id":31366,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31353\/revisions\/31366"}],"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=31353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}