Kazuo Okada, the Japanese billionaire and former friend of Steve Wynn, wants to turn Manila into the new Macau.
Kazuo Okada, the billionaire chairman of Universal Entertainment Corp and Tiger Resorts Entertainment Inc, could be upping his investment in Manila to $4 billion, as he seeks to transform the Philippine capital’s ‘Entertainment City’ into the brand new Macau.
This would express Okada’s investment that is biggest of all of the time, said Takahiro Usui, COO of Tiger Resorts this week.
Usui also revealed that the fruit of this investment, a 993-room resort and casino resort scheduled to open in November, features a new name. The project previously referred to as ‘Manila Bay Resorts’ has become ‘Okada Manila,’ which suggests the Japanese gaming mogul has learned a thing or two from his previous business partner-turned-foe Steve Wynn, and for the value of plastering your name across the front side of a casino.
Okada had been a Wynn Resorts executive and a shareholder that is major the organization, until he was ousted in 2012. The 73-year-old Japanese businessman, whom made his fortune manufacturing Pachinko machines, had initially anticipated their old friend Wynn to come up to speed with the Manila project as he received a gaming permit there in 2008.
Okada had bailed Wynn out to the tune of $455 million to greatly help finance the completion of Wynn Las Vegas and Wynn Macau, for which he received