Okada Manila poised for expansion; mulls listing

Okada Manila, the newly opened $2.7 billion integrated resort in Entertainment City, is preparing to expand to its next phase later this year, local media reports.

"We would be preparing for our Phase II starting this year, within the year. About 300,000 square meters will be developed for our Phase II," said Japanese gaming mogul Kazuo Okada on the sidelines of the Association of Southeast Asian Nations (ASEAN) Prosperity For All Summit 2017, quoted by local reporters.

The owner and operator of the integrated resort, Tiger Resort Leisure and Entertainment Inc, opened Phase I of the facility in March 2017. It includes 1,000 luxurious hotels room, 500 gaming tables and 3,000 slot machines, as well as retail space, a beach club, a nightclub, an iconic dome, and one of the world’s largest water fountains.

The billionaire also noted that Tiger Resort is still considering getting on the stock exchange through a planned backdoor listing.

"We are still in the process of thinking about it so nothing has been finalized yet. It is just being considered as of this moment," he said.

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