Okada Manila Casino Shifts Grand Opening To March 2017

The $2.4-billion Okada Manila casino resort that recently had a soft launch has pushed back its grand opening to March 2017. The casino had earlier said that it was planning to open formally by the end of February.

Located inside Entertainment City, the dedicated gaming zone in Manila, the integrated casino resort initially opened its doors on 30 Dec 2016 for what it called a preview period.

In a statement Okada Manila said,

Since that time the construction focus has been on the VIP casino floors, restaurants, world-class fountains and other facilities in preparation for the grand opening. We hereby announce that we have now reached the stage wherein we are targeting to hold the grand opening at the end of March 2017.

During the preview period, customers gained access to the gaming area and some catering facilities but not to the hotel or the restaurants. This is not the first time the project has been postponed. It has been delayed several times over years with even the soft opening having been pushed back by a month due to bad weather.

Okada Manila

The casino’s operating company is Tiger Resort, Leisure and Entertainment Inc., a subsidiary of Japanese gaming firm Universal Entertainment Inc. headed by billionaire entrepreneur Kazuo Okada. The first phase of the project will cover 22 hectares (54.4 acres) out of the total 44 hectares available for the project.

Okada Manila has a 41,000-square- meters gaming floor featuring 500 gaming tables and 3,000 electronic gaming machines. A luxurious hotel with 993 rooms spread over two wings is being developed along with other attractions like a high-end retail section, a beach club, a large spa, and numerous dining outlets. It is expected that the casino resort will create between 8,000 and 10,000 jobs when it is fully operational.

Universal Entertainment said in a recent filing to JASDAQ Securities Exchange that sales at Okada Manila was expanding on a daily basis after its soft launch but as of now has not released any official sales figures. The company stated that the property’s earnings will be reported as part of results for the quarterly reporting period starting 1st of April.

Kazuo Okada is considering listing the Philippine subsidiary on the country’s stock exchange in a years’ time as he is confident that the Okada Manila casino resort is likely to generate profit in the first year of operation which will enable him to recoup his investment during the next three to five years.

Adrian Sterne

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