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Asia Casino News │ ACN东方博彩新闻

Asia Casino News outlet for Online Gaming and Gambling Industry in Asia.

Okada Manila to Go Public by Merging with SPAC

October 20, 2021 Industry Updates

Okada Manila has signed a merger agreement with blank-check firm 26 Capital Acquisition Corp that will see its stock listed on the Nasdaq through an American Depository Receipt programme.

The US$2.6bn merger will provide the casino operator US$275m in cash proceeds that will be used for growth and other corporate purposes. It is expected the merger will close in the first half of next year.

“With its beautiful new facility, a desirable location in one of the fastest-growing gaming markets in the world, and potential for industry-leading margins and cash flow conversion, I believe Okada Manila is an extremely compelling investment,” Jason Ader, Chairman and CEO of 26 Capital, said.

Source: https://europeangaming.eu/portal/latest-news/2021/10/19/101970/okada-manila-to-go-public-by-merging-with-spac/
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