Tiger Resort operators go public
Tiger Resort will take Okada Manila business public, according to this week’s statement.
Philippines.- Operators of the gaming Tiger Resort, which owns the Okada Manila casino, revealed this week to the Philippine press that they have decided to take their business public in order to boost their financial status. The announcement was published by the company’s operator, Universal Entertainment.
The Philippine casino business will go public next year, as Universal Entertainment revealed to the international representatives of the gaming market. “The casino is already EBITDA positive and sales continue to rise and surpass the initial forecasts,” said the company in the statement published this week. “Okada will strengthen international marketing, open sales offices in new countries and add amenities to help draw more VIPs,” the company said.
Earlier this year, Philippine prosecutors in Parañaque City and Makati dropped fraud and perjury complaints against Japanese casino tycoon Kazuo Okada. Tiger Resorts Leisure and Entertainment had filed a complaint that said that the CEO made false allegations against the company.
Later, Makati prosecutors cleared Okada of any wrongdoing as it cited lack of evidence in relations to complaints filed by Tiger Resorts. Parañaque prosecutors also dismissed a fraud complaint related to the alleged award of a major supply contract at Okada Manila by Okada to one of his own companies, Aruze Philippines Manufacturing Inc.
