Okada Manila, Owner of The Leading Integrated Gaming Resort in the Philippines, and 26 Capital Acquisition Corp. (NASDAQ: ADER), Announce Plans to Merge, Resulting in Okada Manila Becoming a Publicly Traded Company

MANILA, Philippines and MIAMI and TOKYO, Oct. 15, 2021 /PRNewswire/ -- Tiger Resort, Leisure and Entertainment Inc., operating as Okada Manila, one of the premier destination casino resorts in Asia and the largest integrated resort in the Philippines, along with Miami-based publicly traded special purpose acquisition company, 26 Capital Acquisition Corp. (NASDAQ: ADER), announced today that they have entered into a merger agreement, which will result in Okada Manila becoming a publicly traded company listed on Nasdaq. The transaction implies an enterprise value for Okada Manila of $2.6 billion and is anticipated to provide Okada Manila with up to $275 million in cash. Upon closing of the transaction, the publicly traded company will have its common stock listed on the Nasdaq through an American Depository Receipt program.

The transaction includes significant strategic alignment as Jason Ader, head of 26 Capital Acquisition Corp., intends to leverage his renowned expertise in gaming, gaming technology, lodging, entertainment, and internet commerce for the benefit of Okada Manila. Having 26 Capital as a partner will allow Okada Manila to leverage 26 Capital's expertise in those areas to help unlock value and drive growth opportunities for the company. 

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