26 Capital Acquisition Corp. and UE Resorts International (UERI) have extended the deadline for their merger contract.
Both firms reiterated their dedication to the agreement, initially revealed on October 15, 2021, and consented to a postponement. The updated termination date is October 1, 2023.
This additional period will enable both organizations to finalize the outstanding particulars of the transaction. The amalgamation will make UERI a publicly traded entity, with its shares anticipated to be listed on the Nasdaq stock exchange. The unified corporation will be strategically situated to leverage the expanding Asian gambling sector.
Jason Ader, Chairman and Chief Executive Officer of 26 Capital, conveyed his ongoing eagerness for the arrangement, emphasizing the prospect for shareholders to engage in one of the most rapidly developing gaming sectors globally.
The decision by ‘Universal Entertainment’ to prolong their contract for an additional year demonstrates their dedication, alongside Okada Manila’s, to concluding this business consolidation.”
In the previous month, Adel engaged in a discussion with *Inside Asian Gaming* concerning Universal Entertainment’s endeavors to reclaim authority over Okada Manila. This development follows actions taken by Kazuo Okada, the company’s late co-founder and board participant, who spearheaded a faction that seized control of Okada Manila through forceful means in May.
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