{"id":777015925,"date":"2024-05-29T09:33:11","date_gmt":"2024-05-29T12:33:11","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015925"},"modified":"2026-04-22T09:44:56","modified_gmt":"2026-04-22T12:44:56","slug":"universal-ent-reportedly-planning-to-list-okada-manila","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/universal-ent-reportedly-planning-to-list-okada-manila","title":{"rendered":"Universal Ent reportedly planning to list Okada Manila"},"content":{"rendered":"\n<p>Universal Entertainment is said to be planning to list the entity on the Philippine Stock Exchange.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- <strong>Universal Entertainment<\/strong> aims to list <strong>Okada Manila<\/strong> on the Philippine Stock Exchange (PSE) by 2025, according to media outlet InsiderPH. It&#8217;s said the company plans an initial public offering (IPO) valued between US$500m and US$750m. BDO Capital &amp; Investment Corp and CLSA have reportedly been hired to arrange the deal.<\/p>\n\n\n\n<p>A listing was planned for late 2024 but was delayed due to uncertain market conditions and efforts to refinance US$760m in obligations maturing in December. <\/p>\n\n\n\n<p>A merger agreement\u00a0with blank-chequek firm 26 Capital Acquisition Corp <a href=\"https:\/\/focusgn.com\/asia-pacific\/okada-manila-to-go-public-by-merging-with-spac\" target=\"_blank\" rel=\"noreferrer noopener\">announced in October 2021<\/a> was intended to allow Universal to list on the Nasdaq and combine Universal with its Philippine subsidiary Tiger Resorts Asia, which\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/tral-and-universal-entertainment-retake-control-of-okada-manila\" target=\"_blank\" rel=\"noreferrer noopener\">regained control of Okada Manila<\/a> in September 2022.\u00a0However, Universal Entertainment called off the agreement, accusing 26 Capital of disregarding SEC laws and misleading investors.<\/p>\n\n\n\n<p>Okada Manila&#8217;s gross gaming revenue (GGR) was\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/trlei-posts-gross-gaming-revenue-of-us166-8m-for-q4\" target=\"_blank\" rel=\"noreferrer noopener\">down 5.8 per cent quarter-on-quarter<\/a> and 24.1 per cent year-on-year at PHP8.78bn (US$154m) in the first quarter of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Universal Entertainment is said to be planning to list the entity on the Philippine Stock Exchange.<\/p>\n","protected":false},"author":176,"featured_media":16789,"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 is reportedly planning an Initial Public Offering (IPO) for Okada Manila on the Philippine Stock Exchange (PSE) by 2025, targeting US$500m-$750m. This move follows a terminated merger agreement with 26 Capital Acquisition Corp for a Nasdaq listing and comes amidst efforts to refinance significant obligations and a reported decline in Okada Manila's Q1 Gross Gaming Revenue (GGR).","focusai_entities":"Universal Entertainment, Okada Manila, BDO Capital & Investment Corp, CLSA, 26 Capital Acquisition Corp, Tiger Resorts Asia","focusai_location":"Philippines, United States","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"IPO Valuation Drivers","query":"What specific operational improvements or market conditions are projected to support the US$500m-$750m IPO valuation for Okada Manila, particularly given the recent GGR decline and significant refinancing requirements?"},{"label":"Regulatory Scrutiny Impact","query":"How might the previous accusations against 26 Capital Acquisition Corp regarding SEC laws influence the regulatory scrutiny and due diligence process for Okada Manila's planned PSE listing?"}],"footnotes":""},"categories":[157,16333],"tags":[8986],"class_list":["post-777015925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-okada-manila"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015925","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=777015925"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015925\/revisions"}],"predecessor-version":[{"id":777015946,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015925\/revisions\/777015946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16789"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}