Okada invests $2.4B in PH gaming resort
the $2.4B Okada Manila
A GROUP led by Japanese gaming tycoon Kazuo Okada has invested $2.4 billion to complete before the year’s end Okada Manila, the newest and biggest integrated resort in Pagcor Entertainment City.
Okada Manila – which is targeted to have a soft opening by November – is seen to become the largest casino resort in the country occupying a gaming space of 26,410.77 square meters (sqm) and housing over 500 table games and over 3,000 electronic gaming machines.
The third integrated resort to rise at Pagcor City will also have a Y-shaped hotel designed with a gleaming gold exterior, envisioned to be an iconic structure on the Manila Bay horizon. It will have two wings comprising 15 floors each and housing a total of 993 deluxe rooms ranging from 60-sqm deluxe rooms to luxurious 1,400-sqm villas.
Each room is designed to offer an impressive view of either Manila Bay or the resort’s majestic dancing fountain, the biggest in the country and the second biggest in the world next to the choreographed Dubai Foundatin in man-made Burj Khalifa Lake.
Steve Wolstenholme, president of estate developer Tiger Resort Leisure & Entertainment Inc., said during the press launch on Tuesday: “Okada Manila has the potential to compete with the entertainment and gaming giants from across the region with its best natural resources – its hospitality and warmth. Here, expect an effortless integration of the Japanese omotenashi – people’s respectful demeanor, passion for creativity and hunger for innovation – and the Filipinos’ hard work, hospitality and cheerful spirit, in terms of quality service.”
The estate will also have a 90,000 square-feet entertainment venue enclosed in a glass dome which will feature 33 cabanas and bungalows equipped with amenities such as private jacuzzis, dining rooms and media and karaoke rooms. This is claimed to be the most luxurious indoor night club/beach club complex in Southeast Asia which will be called The Cove.
With a maximum capacity of 4,500 guests, The Cove will feature real white sand, lily pads, daybeds and a luxurious locker and shower room facilities.
Okada Manila will also house a 700-sqm butterfly pool, two expansive stages and five distinct bars offering artisanal cocktails. It will also offer world-class spa facilities.
The estate will also offer 8,409 sqms of shopping area that will feature over 50 luxury brands.
For food lovers, the complex will also have 21 restaurants containing a mix of casual, buffet and international dining options. There will be K.O. Dining, which carries signature restaurants by Michelin-rated chefs.
Antonio Cojuangco, Okada’s local partner and a board member at Tiger Resorts, said that the hotel facilities of Okada Manila would be “the best not only in the Philippines but also in the region” and should attract both foreign and local tourists.
Cojuangco expected the group to recoup the $2.4 billion investment in 1.5 to 2 years, part of which will be achieved with the asset appreciation from a potential public listing of Tiger Resort in the future.
an aerial view of Okada Manila (artist’s rendition)
