Okada Manila said it is poised to gain renewed business opportunities with the easing up of travel restrictions and tourism recovery gaining momentum in the country.
“Okada Manila in particular stands to gain from the Macau lockdown with its gross gambling revenues (GGR) projected to return to 2019 levels by 2023. Should projections stay on track, the Philippines will be able to match Singapore in terms of GGR by next year and will potentially overtake it the following year to become the second largest market in Asia,” it said in a statement.
Meanwhile, Tiger Resort Leisure and Entertainment Inc. (TRLEI) has reiterated its position that Japanese Kazuo Okada does not have the right to hold possession of the gaming complex simply because of the status quo ante order issued by the Supreme Court reinstating his right as a shareholder of the gaming complex.
Lawyer Estrella Elamparo, senior partner at law firm Divina Law which handles the Okada case for TRLEI, said despite the Supreme Court’s order, what Okada owns is merely an assigned shares by TRLEI’s mother company Hong Kong-listed Tiger Resort Ltd. (TRAL).
TTRLEI, which operates Okada Manila, is 99.99-percent owned by TRAL.
Speaking at a local forum in Quezon City, Elamparo said the status quo ante order does not mean Okada can take over the Okada Manila business, which he stressed is still owned by TRAL.
