Universal Entertainment Corporation — the parent company of Okada Manila operator Tiger Resort, Leisure and Entertainment (TRLEI) — has delayed a listing on the Nasdaq by three months until Sept. 30, iGB reports.
Okada Manila is to be listed on the stock exchange through a merger with 26 Capital Acquisition, which was announced last October.
Okada Manila was initially supposed to merge with 26 Capital and list on the exchange with a June 30 target date.
Earlier this month, TRLEI announced that it would file criminal charges after a number of people – allegedly led by Okada founder Kazou Okada – “violently entered and occupied” its Okada Manila resort.
Before this, TRLEI filed a motion for the Second Division of the Supreme Court of the Philippines to reconsider a “status quo” order, which saw Kazou Okada removed from his roles within the company in 2017 due to what the business called a “misappropriation” of funds. Read more.
