Okada Manila Considering Japan Expansion After SPAC Deal Closes
Fresh sour announcing plans to merge with a special resolve acquisition keep company (SPAC), Okada Manila could live eyeing its next move: expanding inward Japan, its parent company’s rest home country.
Last Friday, Okada Manila, the world’s only when Japanese-owned structured resort, said it’s meeting with Jason Ader’s shell fellowship 26 Washington (NASDAQ:ADER), pavement the way for the cassino manipulator to lean its shares inwards the US. The keep company will merchandise on the Nasdaq when the dealings with the blank-check stiff closes in June 2022.
Ader, who also runs investiture steadfast SpringOwl Asset Management, confirmed Okada capital of the Philippines testament seek expansion opportunities inwards Japan.
The companionship will possess assets beyond the Philippines o'er the next several years,” Ader said inwards an interview with Bloomberg. “This fellowship is non expecting to live simply a single asset company inwards perpetuity.”
Currently, Okada capital of the Philippines is comprised of simply that gaming venue inward the Philippines. The only publically traded casino manipulator inward the US with a littler identification number of venues is Monarch Casino & Resort (NASDAQ:MCRI), which owns ii gaming properties.
Assessing Okada capital of the Philippines Japan Prospects
Japan-based Universal Entertainment is Okada Manila’s parent company, so in that location are obvious ties to the world’s third-largest economy. But how the operator will scene inwards its nursing home country’s still-emerging gambling casino gaming landscape painting remains to follow seen.
The commendation cognitive process on that point is slow-moving. But it’s expected that next year, Nipponese authorities testament select as many as many as ternion cities to follow homes to the country’s number 1 structured resorts. While new Prime Minister Fumio Kishida is supportive of casino gaming, Okada Manila is in arrears competitors, at least when it comes to the initial triplet of licenses.
Currently, just trine prefectures — Nagasaki, Osaka, and Wakayama — are bidding, and to each one has declared intents to relocation forwards with unnerving partners. Osaka is teaming up with local financial services steadfastly Orix and MGM Resorts International, piece Casinos Republic of Austria is Nagasaki’s partner.
Wakayama’s entreat may hold lately gotten a positive jolt when Caesars Entertainment (NASDAQ:CZR) said it’s connexion Clairvest Neem Ventures K.K.’s consortium.
Other Opportunities
Ader adds Okada capital of the Philippines could eventually follow up on acquisition opportunities beyond Japan, but he declined to discover specific markets.
He previously served on the plank of Las Vegas Sands (NYSE:LVS) from 2009 through 2016, confirming an versed knowledge of Asia’s gaming landscape. There is speculation that some gaming assets inwards the Asia-Pacific part could live on the market, but those rumors don’t affect Okada Manila.
Ader’s 26 Washington is providing upwardly to $275 1000000 in hard currency to Okada Manila through and through the blank-check transaction, and if its shares revalue next the deal, it will make added currency with which to deal acquisitions. But it could read some time for such plans to follow together.