Okada Manila, one of the largest integrated resorts in the Philippines, is reportedly considering an initial public offering (IPO) in the country. This move comes as the resort seeks to capitalize on the growing tourism industry in the Philippines and expand its presence in the region.
The resort, which is owned by Japanese gaming giant Universal Entertainment Corp, has been a major player in the Philippine gaming and entertainment market since it opened its doors in 2017. With its luxurious accommodations, world-class casino, and entertainment offerings, Okada Manila has quickly become a popular destination for both local and international tourists.
According to sources close to the matter, Okada Manila has been in discussions with investment banks and financial advisers about the possibility of launching an IPO in the Philippines. The resort is said to be looking at raising funds to finance its expansion plans, which could include the development of additional hotel rooms, gaming facilities, and entertainment venues.
The timing of the potential IPO is still uncertain, with the resort’s management reportedly weighing their options and evaluating market conditions. However, industry insiders believe that an IPO could significantly boost Okada Manila’s profile and attract new investors who are looking to capitalize on the growing tourism industry in the Philippines.
The Philippines has been experiencing a boom in tourism in recent years, with the government actively promoting the country as a top destination for both leisure and business travelers. In 2019, the country welcomed over 8.2 million international visitors, a 15% increase from the previous year.
If Okada Manila proceeds with its IPO plans, it would join other major gaming and hospitality companies in the Philippines that have successfully listed on the local stock exchange. These include Bloomberry Resorts Corp, the operator of the Solaire Resort and Casino, and Travellers International Hotel Group, the operator of Resorts World Manila.
While an IPO would provide Okada Manila with additional funding for its expansion projects, it could also help the resort raise its profile and attract new customers. With its reputation for luxury and entertainment, Okada Manila could potentially become a major player in the Philippine tourism industry and further solidify its position as a top destination for visitors from around the world.
