Opposing factions disagree over cause of rising visitation at Okada Manila

July 12, 2022 Philippines Earnings & Filings Industry Updates

The Tiger Resort Asia Ltd (TRAL) backed board of Okada Manila operator Tiger Resorts, Leisure and Entertainment Inc (TRLEI) has refuted suggestions that the Kazuo-Okada led group which took control of the property in May has been responsible for rising visitation.

At a press conference held in Manila on Monday, the Kazuo Okada-group revealed that foot traffic at Okada Manila had grown 8% in May, reaching around 74% of its pre-COVID levels with more shops and entertainment attractions due to open soon.

But in a statement issued late Monday, the opposing TRAL-backed board – which was removed from the property during a forced takeover on 31 May – said any claims that the Kazuo Okada-group was responsible for the increase is “absurd and without factual basis.”