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Travel & Leisure

Listing of Philippine casino Okada Manila still on, says U.S. SPAC

CEO of 26 Capital confident messy boardroom dispute will be resolved

The Okada Manila casino in Entertainment City: Japanese gambling tycoon Kazuo Okada’s group took over the property on May 31 and installed new management. (Photo by Akira Kodaka)

MANILA -- The chief executive of the Nasdaq-listed blank-check company that hopes to merge with Philippine casino Okada Manila says it will move ahead with the plan despite a deepening management dispute over the resort.

Okada Manila is planning to list in the U.S. by merging with 26 Capital Acquisition, a special purpose acquisition company (SPAC), in a deal that values the casino at $2.5 billion.

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