{"id":86754,"date":"2022-07-25T09:55:00","date_gmt":"2022-07-25T09:55:00","guid":{"rendered":"https:\/\/omni48.com\/news\/okada-manila-spac-deal-eyes-downstate-new-york-casino-license"},"modified":"2022-07-25T09:55:00","modified_gmt":"2022-07-25T09:55:00","slug":"okada-manila-spac-deal-eyes-downstate-new-york-casino-license","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/okada-manila-spac-deal-eyes-downstate-new-york-casino-license","title":{"rendered":"Okada Manila SPAC Deal Eyes Downstate New York Casino License"},"content":{"rendered":"<p>Noel Celis\/AFP via Getty ImagesBack in October, 26 Capital Acquisition Corp. (NASDAQ: ADER), a SPAC founded by gaming turnaround specialist Jason Ader, announced a business combination with Universal Entertainment Resorts International (UERI), the holding company of Okada Manila International. The merger agreement was recently extended from July 1 until Oct. 1, an indication the two parties remain committed to closing the deal. Ader said his team is &#8220;working around the clock to ensure we get it across the finish line.&#8221;Some industry observers believe the proposed tie-up is the latest example of a blank-check company grabbing at whatever it can in the face of strong market headwinds. SPACs have a two-year window to consummate a business combination. Failure to do so results in the SPAC&#8217;s sponsors losing 100% of their investment. But Brendan Bussmann (managing partner, B Global) sees the announced merger, which would create the biggest Philippine public company ever to be listed on a major U.S. exchange, as a<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Back in October, 26 Capital Acquisition Corp. (NASDAQ: ADER), a SPAC founded by gaming turnaround specialist Jason Ader, announced a business combination with Universal Entertainment Resorts International (UERI), the holding<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[7,5,6,279],"class_list":["post-86754","post","type-post","status-publish","format-standard","hentry","category-news","tag-gambling","tag-hobbies","tag-lifestyle","tag-nasdaq"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/86754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=86754"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/86754\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=86754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=86754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=86754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}