MANILA, MIAMI, and TOKYO, Dec. 8,
2021 /PRNewswire/ -- Okada Manila International, Inc.,
a subsidiary of Universal Entertainment Corporation (TSE: 6425) and
an affiliate of the operator of Okada Manila, and 26 Capital
Acquisition Corp. today announced that they will submit plans in
response to the New York State
Gaming Commission's requests for information for what is expected
to be three new casino licenses in the southernmost part of the
state. These licenses are the last ones authorized as part of a
2013 ballot measure that allowed for seven new nontribal casinos,
four of which have already been built upstate. Okada Manila
International, Inc., the anticipated holding company of Okada
Manila, recently announced its corporate name change to "UE Resorts
International, Inc." and the response to the information request
will be submitted under this name.
About Universal Entertainment Corp.
Universal
Entertainment (TSE: 6425) is a key player in the Asian integrated
resorts business through its ownership of the Okada Manila hotel
and casino. Universal is also a leading manufacturer of gaming
machines in Japan where it
designs, produces and distributes Pachinko and Pachislot
machines.
About 26 Capital Acquisition Corp.
26 Capital
Acquisition Corp. (NASDAQ: ADER) is a Nasdaq-listed blank
check company formed for the purpose of creating stockholder value
by identifying an acquisition target with significant growth
opportunities that the 26 Capital team can enhance by utilizing its
experience and track record of creating and unlocking value, with
particular focus in gaming, gaming technology, lodging, and
entertainment. 26 Capital is led by Jason
Ader of SpringOwl Asset Management. Mr. Ader has over
26 years of experience as an institutional investor, asset manager,
and research analyst, with particular expertise in the gaming and
hospitality industries. SpringOwl Asset Management has raised more
than $1 billion in capital since it
was founded in 2013.
Participants in the Solicitation
26 Capital
Acquisition Corp. and certain of its directors and executive
officers may be deemed participants in the solicitation of proxies
from 26 Capital Acquisition Corp.'s stockholders with respect to
the proposed business combination transaction. A list of the names
of those directors and executive officers and a description of
their interests in 26 Capital Acquisition Corp. is set forth in 26
Capital Acquisition Corp.'s filings with the SEC (including 26
Capital Acquisition Corp.'s final prospectus related to its initial
public offering (File No. 333-251682) dated as of January 14, 2021), and are available free of
charge at the SEC's web site at www.sec.gov, or by directing a
request to 26 Capital Acquisition Corp., 701 Brickell Avenue,
Miami, Florida
33131, attention: Jason
Ader. Additional information regarding the interests of such
participants will be contained in the prospectus/proxy statement
for the proposed business combination transaction when
available.
Okada Manila and certain of their directors and executive
officers may also be deemed to be participants in the solicitation
of proxies from the stockholders of 26 Capital Acquisition Corp. in
connection with the proposed business combination transaction. A
list of the names of such directors and executive officers and
information regarding their interests in the proposed business
combination transaction will be included in the registration/proxy
statement for the proposed business combination transaction when
available.
No Offer or Solicitation
This press release shall not
constitute a solicitation of a proxy, consent or authorization with
respect to any securities or in respect of the proposed business
combination transaction. This press release shall also not
constitute an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any sale of securities in any
states or jurisdictions in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward-Looking Statements
This press release includes
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
provided for illustrative purposes only and are not intended to
serve as, and must not be relied on by any investor as, a
guarantee, an assurance, a prediction or a definitive statement of
fact or probability. Okada Manila's actual results may differ from
their expectations, estimates, and projections and, consequently,
you should not rely on these forward-looking statements as
predictions of future events. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts,"
"potential," "continue," and similar expressions (or the negative
versions of such words or expressions) are intended to identify
such forward-looking statements. These forward-looking statements
include, without limitation, 26 Capital Acquisition Corp.'s and
Okada Manila's expectations with respect to future performance and
anticipated financial impacts of the business combination
transaction.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially, and potentially adversely, from those expressed or
implied in the forward-looking statements. Most of these factors
are outside 26 Capital Acquisition Corp.'s and Okada Manila's
control and are difficult to predict. Factors that may cause such
differences include, but are not limited to: (1) the outcome of any
legal proceedings that may be instituted against 26 Capital
Acquisition Corp. and/or Okada Manila following the consummation of
the business combination transaction; (2) the impact of COVID-19
and related regulatory responses (such as local community
quarantine and international travel restrictions) on Okada Manila's
business; (3) the dependence of Okada Manila's business on its
casino gaming license; (4) the inability to maintain the listing of
Okada Manila's common shares on the Nasdaq following the
consummation of the business combination transaction; (5) the risk
that the business combination transaction disrupts current plans
and operations; (6) the ability to recognize the anticipated
benefits of the business combination transaction, which may be
affected by, among other things, competition, the ability of Okada
Manila to grow and manage growth profitably, and retain its key
employees; (7) costs related to the business combination
transaction; (8) changes in applicable laws or regulations; (9) the
possibility that Okada Manila may be adversely affected by other
economic, business, and/or competitive factors; and (10) any plans
to expand operations outside of the
Philippines. The foregoing list of factors is not exclusive.
All subsequent written and oral forward-looking statements
concerning 26 Capital Acquisition Corp. or Okada Manila, the
transactions described herein or other matters and attributable to
26 Capital Acquisition Corp., Okada Manila or any person acting on
their behalf are expressly qualified in their entirety by the
cautionary statements above. Readers are cautioned not to place
undue reliance upon any forward-looking statements, which speak
only as of the date made. Each of 26 Capital Acquisition Corp. and
Okada Manila expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in their
expectations with respect thereto or any change in events,
conditions, or circumstances on which any statement is based,
except as required by law.
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SOURCE 26 Capital