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

A blank-check firm, 26 Capital Acquisition Corp., and the casino and resort development company, UE Resorts International (UERI), have postponed the termination date for their business combination. The initial cutoff was October 1, 2022, but both entities have consented to prolong it to October 1, 2023.

This deferral grants them additional time to conclude the transaction. Both 26 Capital and UERI have reiterated their dedication to the amalgamation, which was initially disclosed in October 2021.

The unified entity will be publicly traded on the Nasdaq stock market. This consolidation will enable UERI to access the expanding Asian gambling sector and generate fresh prospects for its stakeholders. The Chairman and CEO of 26 Capital, Jason Ader, conveyed his enthusiasm regarding the agreement and the possibility for investors to capitalize on the flourishing Asian gaming industry.

The desire of ‘Universal Entertainment’ to prolong the contract for an additional twelve months demonstrates a mutual dedication to concluding this arrangement.” This remark was given in the previous month by a spokesperson from ‘Universal Entertainment’ during a conversation about the current circumstances with Okada Manila. The gaming establishment was effectively taken over by its removed originator, Kazuo Okada, in the month of May.