26 Capital and UE Resorts International Extend Merger Deadline to October 2023

26 Capital Acquisition Corp. and UE Resorts International (UERI) have opted to postpone the cutoff date for their amalgamation agreement. While the transaction was initially unveiled in October 2021, both firms have reiterated their dedication to the merger and modified the termination date as needed.

The initial deadline of October 1, 2022, has now been prolonged to October 1, 2023.

26 Capital indicated that this extension demonstrates the commitment both entities have to concluding this agreement. The supplementary time will enable them to satisfy all the essential closing prerequisites. Both 26 Capital and UERI are striving towards finalizing the transaction at the earliest opportunity.

Upon the merger’s completion, UERI will transform into a publicly listed company, with its ordinary shares and warrants quoted on the Nasdaq Stock Market. This novel entity will synthesize the strengths of both corporations, generating value and unleashing growth prospects.

Jason Ader, Chairman and CEO of 26 Capital, conveyed his enthusiasm regarding the deal, emphasizing the chance for investors to access one of the most rapidly expanding gaming sectors in Asia.

The one-year contract extension demonstrates a mutual dedication from ‘Universal Entertainment’ and its partner to finalize the purchase.”

Last month, Adelson spoke to Gaming Insider regarding Universal Entertainment’s efforts to reclaim authority over Okada Manila. The company’s expulsion of co-founder and board member, Kazuo Okada, stemmed from his aggressive seizure of the Okada Manila casino resort in May.