Okada Manila casino boss, Tiger Resort, Leisure and Entertainment (TRLEI) is preparing to go public in 2019. The IPO will be the company’s first and the announcement suggests that the wheels have been set in motion for quite some time now. As a subsidiary of the Universal Entertainment Group, Tiger Resort will have solid financial and legal backing.
Time to Get Bigger
The public listing will serve one specific purpose of course and that’s to help build a solid capital which in turn can allow the company to expand at a good clip. The new funds will be poured into the expansion of the operations, including potential new properties, but also catching up the offer of the casino to the latest industry standards.
Based in Manila’s Entertainment City district, there have been many delays in the developments of the company’s properties, which have definitely contributed to the rated belated IPO. Still, Okada Manila is all set to pursue a course of expansion, which will help it add to the sophisticated list of amenities already up for grabs. And the recent changes in the C-level brass suggest a preparation for a massive action.
In Q3 2018, Okada Manila will add a Chinese restaurant entertaining its guests to the utmost refined Chinese culinary secrets. The property dubbed Yu Lei has a Michelin star and has been known for its excellence in delivering impeccable meals.
Going Truly Global, But First at Home
The operator will focus on delivering entertainment facilities that are not directly linked to gambling offering a diverse portfolio, which will in turn drive acquisitions and most likely boost client retention
One of the planned operations is to expand the VIP offer, adding exclusivity, but also targeting richer audiences, which will translate into more profits. Okada Manila can afford itself to advertise as a posh venue for the top-brass without losing its loyal rank-and-file gamers who also love the resort.
Of course, going public carries its risks as with the fresh capital there will be also new shareholders and investors interested in dictating the agenda of the casino. This is a risk, though, that seems well worth taking given the future plans of the casino and the appetites of the company to bring a streamlined experience for its customers.
All in all, TRLEI has been doing excellent. In the first six months of 2018, the company posted $194.4 in net sales, which is a decent result for any player on the market. Expansion in Manila firmly on the cards.
Manila’s Gambling Landscape
Manila is a great spot to be if you are opening a casino or plan on a future expansion. Placed perfectly to balance between the region’s appetites for gambling and tight regulations in neighbouring legislations.
With the rather parched land of available casino options Okada Manila can definitely expect the interest in its own operations to continue. Of course, some have been quick to point out that Japan is undertaking a serious expansion of its gambling operations and that is true. However, the threat of Mr. Duterte’s Presidency should not be overlooked.
However, Manila still has its own charm and developed infrastructure to be brushed aside just by anyone.