Published
Land-BasedCasinoMergers & Acquisitions

26 Capital and UERI extend merger agreement end date

26 Capital Acquisition Corp. and UE Resorts International (UERI) have extended their merger agreement end date.

capital 26
Listen To Article

The groups reiterated their “mutual commitment to and strong support of” the previously announced agreement dated 15 October 2021 by jointly consenting to extend the termination date.

Both parties have agreed to extend the date from 1 October 2022 until 1 October 2023.

“The extension of the termination date illustrates the commitment on the part of both parties to successfully close the merger transaction contemplated by the agreement,” a statement from 26 Capital read. “The amendment will provide additional time to complete the transaction. Both parties remain dedicated to working to close the transaction as expeditiously as possible.

“Upon closing of the transaction, UERI will become a publicly traded company and have its common stock and warrants listed on Nasdaq. When completed, the merger will bring together the complementary strengths of both organisations allowing the publicly traded company to unlock value and drive growth opportunities for the business and its shareholders.”

26 Capital Chairman and CEO Jason Ader commented: “I remain extremely excited about this transaction and the opportunity for our investors to participate in one of the fastest growing Asian gaming markets.

“The fact that Universal Entertainment is willing to extend the agreement by a year demonstrates the dedication of both parties to complete the merger.”

Last month, Gambling Insider spoke to Ader, who discussed Universal Entertainment’s reclamation of the Okada Manila, which was taken by force in May this year by the company’s deposed Co-Founder and board member, Kazuo Okada.


Casino News Sponsor
Premium+ Connections
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...