Universal Entertainment Inc., (6425:Tokyo) was granted a provisional license for their Okada Manila casino resort on December 16 with an effective date of December 21, according to a report filed with the Tokyo Stock Exchange [Tōshō (東証)]. The license was signed by Philippines Amusement and Gaming Corp (Pagcor) President and COO, Alfredo C. Lim.
Although the property opened with a provisional license for a three-day preview event on December 21, the casino, hotel, and many other amenities are not available to the public yet. Okada Manila’s social media websites state that they will announce as each amenity becomes available ahead of a planned Grand Opening in the first quarter of 2017 with March as the current target.
Opening on December 21 allowed the US$2.4 billion property to materially comply with a deadline imposed by Pagcor earlier after Universal subsidiary, Tiger Resort, Leisure and Entertainment Inc, missed a March 2016 opening deadline resulting in the forfeiture of a $2.2 million deposit. At that time, the project was to be known as Manila Bay Resorts.
Kazuo Okada, Japanese pachinko billionaire and head of parent company Universal has indicated he intends to invest as much as US$5 billion in the property which includes two 5-star hotel towers comprising 993 rooms and suites – all either overlooking Manila Bay or The Fountain, a 300,000 sq ft casino with 500 tables and 3,000 gaming machines, a 90,000 sq ft nightclub, indoor beach club, nearly 100,000 sq ft of retail, and over 20 food and beverage outlets featuring international cuisine.
At full build out the property will offer amenities developed over 44 hectares (about 100 acres).
Okada Manila joins Solaire and City of Dreams Manila at Pagcor’s Entertainment City in Parañaque (Manila) and precedes Westside City (former working name Bayshore City Resorts World) a 31-hectare entertainment township – expected to open in phases beginning in 2019.