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A spokesperson for the UAE Ministry of Defense said the Iranian attack killed three people and injured 68 others.Ireland has nominated European Central Bank Governing Council member Makhrouf to be reappointed as Governor of the Central Bank of Ireland.On March 3rd, Li Jihui, a National Peoples Congress deputy and vice president of the Guangdong Provincial General Chamber of Commerce, stated that Guangdong is a major consumer province with a large consumer population, and its consumer subsidies have achieved good results, effectively stimulating consumer enthusiasm. He suggested continuing to optimize and implement consumer subsidy policies, such as allocating trade-in subsidies to provinces with faster spending and higher impact ratios, supporting major consumer provinces to expand and strengthen trade-in programs, and driving the upgrading and optimization of consumer goods nationwide. He also mentioned that promoting consumption should focus on exploring emerging fields, such as the low-altitude economy and aviation sports, which are gradually becoming new growth points. He suggested that Guangdong should orderly open up low-altitude consumption pilot programs, take the lead in building a low-altitude consumption service system, and cultivate a related industrial ecosystem.A spokesperson for the UAE Ministry of Defense stated that most of the 186 missiles launched by Iran to date have been intercepted.A spokesperson for the UAE Ministry of Defense stated that the UAE possesses a strategic artillery reserve capable of withstanding long-term air threats.

Nasdaq-listed 26 Capital Will Seek A $2.5 Billion SPAC Transaction With A Casino in Manila

Haiden Holmes

Jun 16, 2022 10:50

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Wednesday, the CEO of 26 Capital Acquisition Corp said that the company remained dedicated to its $2.5 billion acquisition of the Philippines' largest integrated casino-resort, despite a control dispute involving the present owners.


Okada Manila, a 44-hectare (108-acre) property owned by companies of Japan's Universal Entertainment Corp, decided in October to combine with 26 Capital and go public in the United States.


However, the transaction has been involved in a protracted battle between Universal and its former chairman and founder, Kazuo Okada.


This conflict took a dramatic turn on May 31, when Okada's Filipino partners, aided by private security guards and local police, gained physical possession of the $3.3 billion casino in the Philippine capital.


"I anticipate Universal will regain control of Okada Manila in the near future," Jason Ader, chairman and chief executive officer of Nasdaq-listed 26 Capital, told Reuters. Both sides want to finalize the deal.


After the Philippine Supreme Court declared in April that Okada should be reinstalled as chairman of the casino's owner and operator, the casino was seized.


Tiger Resorts, the domestic subsidiary of Universal, has challenged the verdict and what it called a "illegal and brutal" acquisition.


A U.S. listing would provide Okada Manila with access to a variety of finances, clients, and lenders, according to Ader, who added that investors believe the Philippines has the potential to become one of the world's top gaming markets.


In a statement, Vincent Lim, a spokesman for Okada Manila's current administration, denied any violent takeover and said that since Okada's return, hotel occupancy rates and casino gaming activity had increased. "His reappearance has restored and revitalized consumer and shareholder trust."


The Philippines' casino industry has begun to recover from the epidemic, with total gaming revenues increasing 14 percent to 113 billion pesos ($2.12 billion) in 2021, albeit still below the record-breaking 256 billion pesos in 2019.


In contrast, Macau, the largest gambling hotspot in the world, continues to suffer under Beijing's "zero-COVID" policy.


Okada was removed from the boards of Universal and its Philippine subsidiary in 2017 on suspicion of misappropriating corporate cash, which he denies.


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