MANILA, Philippines and
TOKYO, Dec.
8, 2021 /PRNewswire/ -- Okada Manila
International, Inc., the anticipated holding company of Okada
Manila, one of the premier destination casino resorts in
Asia and the largest integrated
resort in the Philippines, today
announced that it has approved its corporate name change to "UE
Resorts International, Inc." The new name was created to
better reflect the corporation's expansion plans in Asia and other countries around the world,
including the U.S.
UE Resorts International, Inc. commits to supply superior value
in gaming, gaming technology, lodging and entertainment. As
part of the name change, UE Resorts International, Inc. will honor
its commitment to utilize its prime waterfront real estate in
Entertainment City, Manila to
drive consumers and potential guests from across the globe to its
luxurious Okada Manila integrated resort in the Philippines.
"The transition to UE Resorts International, Inc. marks another
milestone for our business," said Byron
Yip, President of UE Resorts International, Inc. "The
corporation continues to show it's taking advantage of its alluring
destination in one of the fastest-growing gaming markets in the
world to stimulate revenue while providing its guests with
outstanding experiences."
In October, Okada Manila International, Inc. announced it
entered into a merger agreement with 26 Capital Acquisition
Corporation (NASDAQ: ADER), a Miami-based publicly traded special purpose
acquisition company founded by renowned gaming expert Jason Ader, to become a publicly traded company.
The deal may provide up to $275
million of cash to the business, and the transaction is
expected to close in the first half of 2022. The name change will
accommodate this exciting new chapter for the business entity as it
continues to expand in the
Philippines and look outside its current market for
additional opportunities.
"As the business continues to evolve, it was fitting to change
the name," said Jun Fujimoto,
Chairman, President and CEO of Universal Entertainment Corporation,
the parent company of UE Resorts International, Inc., which,
through its wholly owned subsidiary Tiger Resort, Leisure and
Entertainment, Inc., operates the Okada Manila resort. "Our
partnership with Jason Ader and 26
Capital was only the beginning of our plans. We have decided to
change the company name of Okada Manila International, Inc. to UE
Resorts International, Inc. to focus our combined efforts for the
future growth and development of Okada Manila and our ambitions to
establish a presence in other countries around the world."
At over 50 acres, Okada Manila includes approximately 35,000
square meters of gaming space with the capacity to operate 599
gaming tables and 4,263 electronic gaming machines. When the
current construction is complete in 2022, the resort will have
licensed capacity to operate 974 gaming tables and 6,890 electronic
gaming machines. The property also includes two hotel towers with
993 luxury rooms, a retail boulevard with space for 50 shops, Cove
Manila night club and indoor beach club, over 25 dining options,
and one of the world's largest multicolor dancing and musical
fountains.
To learn more about UE Resorts International's history and its
premier destinations, please
visit: www.ueresortsinternational.com.
About UE Resorts International, Inc.
UE Resorts International, Inc. is the holding company of Okada
Manila, the premier casino and integrated resort in Entertainment
City, Manila. Okada Manila is the
largest integrated resort in the
Philippines and amongst the largest in the world. Located in
one of the fastest-growing gaming markets in Asia, Okada Manila sits on over 50 acres of
land, and upon final completion will have licensed capacity to
operate 974 gaming tables and 6,890 electronic gaming machines and
have 993 luxury hotel rooms.
About Universal Entertainment
Corporation
Universal Entertainment Corporation (TSE: 6425)
is a key player in the Asian integrated resorts business through
its ownership of the Okada Manila hotel and casino. Universal
Entertainment Corporation is also a leading manufacturer of gaming
machines in Japan where it
designs, produces and distributes Pachinko and Pachislot
machines.
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SOURCE 26 Capital