Okada Manila Considers Philippine Stock Exchange Debut in 2025

There is a possibility that a noteworthy company will join the Philippine integrated resort sector. The opulent Okada Manila resort, which has hotels, casinos, and entertainment venues, is reportedly considering an initial public offering (IPO) on the PSE for 2025.

InsiderPH, citing unnamed sources, claims that the IPO may raise $500 million to $750 million. The timing seems purposeful, as if to take advantage of the record growth rate that the Philippine gaming industry is currently experiencing. Investment firms BDO Capital & Investment Corp. and CLSA are purportedly going to handle the IPO.

If Okada Manila is successful in listing, it will follow Bloomberry Resorts Corp., the owner of Solaire Resort and the newly opened Solaire Resort North, as the second Manila integrated resort operator on the PSE.

Remarkably, the Philippine Stock Exchange delisted Newport World Resorts (Travellers International Hotel Group Inc.) and City of Dreams Manila (Melco Resorts) in recent years.

Universal Entertainment Corporation, the parent company of Okada Manila, took another significant step forward with the creation of this potential IPO.

The company that runs Okada Manila, Tiger Resort, Leisure and Entertainment Inc. (TRLEI), recently revealed a tentative deal to take over construction of the abandoned Emerald Bay integrated resort in Cebu and oversee its acquisition of a majority interest.

The financial results of TRLEI are also promising for a potential IPO. The company reported gross gaming revenues of Php44.5 billion (US$798 million) in 2023, a strong 29.7% increase from the year before.

The integrated resort could be well-advised to consider an IPO in 2025, given the robust expansion of the Philippine gaming industry and Okada Manila’s impressive revenue growth.

The potential public listing of Okada Manila is expected to enhance its standing as a significant participant in the rapidly expanding tourism and gambling sectors in the Philippines.

Original Story by: Inside Asian Gaming