Japan Embarking on Countrywide Tour to spell out Casino Policies, Gain Public Support

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Kazuo Okada's Manila Casino Project Could Reach $4 Billion

Kazuo Okada's Manila Casino Project Could Reach $4 Billion

Kazuo Okada, the Japanese billionaire and previous friend of Steve Wynn, wishes to turn Manila into the new Macau.

Kazuo Okada, the billionaire chairman of Universal Entertainment Corp and Tiger Resorts Entertainment Inc, could be upping their investment in Manila to $4 billion, as he seeks to transform the Philippine capital's 'Entertainment City' into the new Macau.

This would express Okada's investment that is biggest of all of the time, stated 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, has a new name. The project previously known as 'Manila Bay Resorts' has become 'Okada Manila,' which suggests the Japanese gaming mogul has learned a thing or two from his former business partner-turned-foe Steve Wynn, and associated with the value of plastering your name over the front side of a casino.

Wynn Feud

Okada was a Wynn Resorts executive and a major shareholder in the company, until he was ousted in 2012. The 73-year-old Japanese businessman, whom made his fortune manufacturing Pachinko machines, had initially expected his old friend Wynn to come on board with all the Manila project when 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 a 20 % stake in WyRead more