Worlds Largest Multicolor Dancing Fountain-OKADA MANILA - Our Daily Revelations PH

728x90 AdSpace

Worlds Largest Multicolor Dancing Fountain-OKADA MANILA

Japanese tycoon Kazuo Okada’s casino in the Philippines unveiled on Friday night what it describes as "the world’s biggest multicolor dancing fountain".
Okada Manila hopes to drive foot traffic on a weekend day to 50,000 from the current 10,000 after the fountain is opened to the public.
The newest casino-resort on Entertainment City, the Philippines’ challenge to Las Vegas and Macau, will help build a “critical mass” and grow the market, contrary to analysts' concerns, Okada Manila managing director Steve Wolstenholme earlier said.
The resort hopes to attract more of the Japanese market, capitalize on the slump in Macau while building new markets in Malaysia and Indonesia, Wolstenholme told ANC’s “Market Edge with Cathy Yang.”
Wolstenholme said Okada Manila would benefit from the government’s campaign to attract more foreign tourists while rebuilding the country’s transportation networks.
Okada Manila is one of four billion-dollar casinos on Entertainment City. Bloomberry Resorts operates Solaire while the SM group’s Belle Corp and Melco Crown operate City of Dreams.
"Why Okada invested in Philippines?"
Japanese casino tycoon Kazuo Okada said he bought land in the Philippines nearly a decade ago, seeing immense potential in what was then, Asia’s laggard economy.
On Wednesday, Okada soft-opened a $2.4-billion plum-hued gaming resort in Entertainment City, Manila’s challenge to Las Vegas.
“There was a lot of potential for development and within those Asian countries was the Philippines, wherein they were located in the center of Southeast Asia and proximity wise it would be the best location,” Okada told ANC.
A new airport is “definitely a necessity” for the Philippines, with the potential to double or triple tourist arrivals, he said.
"Who is Okada?"
Kazuo Okada was born in 1942 during the Second World War. Having lost his father at a young age, he became independent and supported his family. He studied at an engineering vocational school to take advantage of his interest and passion for mechanics. An engineer at heart, Okada found tinkering with vacuum tubes (a basic component of early radios and televisions) “so much fun.”
In 1960's as a young man, Okada earned a living repairing jukeboxes and cathode ray tube televisions brought into Japan from the US. In 1969, Okada founded Universal Lease, which manufactured coin-operated arcade games for children.
In late 1969, Okada’s first visit to Las Vegas led to his decision to enter the business of slot machine manufacturing. He invented the “near-miss” feature in his slot machines, an innovation that helped expand the Japanese market of “pachislot” (a hybrid of Japan’s pachinko and Las Vegas slot machines) and also made Okada’s slot machines popular in Las Vegas.
Throughout the 1990s, Universal served as a major supplier of machines to the bustling Japanese pachinko industry.
In 2000, Okada was introduced to Las Vegas-based casino magnate Steve Wynn, eventually investing $380 million in Wynn’s then-new company, Wynn Resorts.
Wynn Resorts opened its first casino in 2005 in Las Vegas and a second one in 2006 in Macau. In 2008, Steve Wynn declined to join Okada in a major investment to build a casino in Entertainment City in Manila. Okada proceeded alone with the investment, forming a local company, Tiger Resort, Leisure and Entertainment, Inc., to handle the development of the Manila property. In July 2016, the said property was unveiled as the Okada Manila, a $2.4 billion integrated hotel, resort and casino that represents Okada’s biggest investment to date.
The property will have 993 hotel rooms, 9,000 sqm. entertainment venue with night club and an indoor beach club, 21 self-operated restaurants, 500 tables, 3,000 electronic gaming machines, 800-meter glass corridor and a $30-million dancing fountain.
With his local partner, Antonio Cojuangco, Okada expects to open the integrated resort before 2016 ends. With the December 2016 legislation allowing for 'bona fide' gambling in Japan, Okada is expected to be a major bidder for a casino license along with former partner Wynn and Sands Group.
Source: ABS-CBN News, Wikipedia and (Yoo Seung Ho)

Follow us: @ourdailyrevelationsph on Twitter & Instagram| ourdailyrevelationsph on Facebook

Worlds Largest Multicolor Dancing Fountain-OKADA MANILA Reviewed by Unknown on April 01, 2017 Rating: 5 Japanese tycoon Kazuo Okada’s casino in the Philippines unveiled on Friday night what it describes as "the world’s biggest multico...

No comments: