Universal Entertainment has said it plans to seek a stock market listing for the company that controls its Okada Manila property within the next two years as it positions for further growth.
In its Q1 results statement, Universal said the listing would be to accelerate growth and to improve the name recognition of Tiger Resorts and Entertainment.
Okada Manila opened at the beginning of 2017 as the largest IR in the Entertainment City zone. The resort has been gradually rolling out new facilities and Universal said in Q2 this year it will open the Maharlika Club, a high-end area and spa targeted at local guests. It will also open more hotel rooms and retail amenities.
In Q1, the casino business had net sales of ¥8.8bn ($80.1m) and an operating loss of ¥1.41bn. Compared with Q4 of last year, sales increased by ¥1.73bn and the loss decreased by 550 million yen.
