PR93567

Okada Manila International, Inc. and 26 Capital Acquisition Corp. (NASDAQ: ADER) Announce Plans to Participate in the New York State Gaming Commission's Request for Information Regarding Casino Licenses

MANILA, MIAMI, and TOKYO, Dec. 9, 2021 /PRNewswire=KYODO JBN/ --

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.

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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.

SOURCE  26 Capital

CONTACT: ltyther@5wpr.com