Former Deutsche Bank and Union Gaming banker Byron Yip has been appointed chief operating officer of Okada Manila in the Philippines’ Entertainment City. He is replacing Steve Wolstenholme, who moved to the Vietnam IR development Hoiana.
According to Inside Asian Gaming, Yip has also joined the board of directors of Okada Manila operator Tiger Resort Leisure and Entertainment Inc.
Yip had no comment on his appointment, but his former colleague Grant Govertsen, Union Gaming’s head of equity research, called it “quite a coup for Okada Manila.”
“The addition of Byron comes at a great time for Okada as the property is at an inflection point and his skillset should prove instrumental in turning Okada into a premier Manila property,” Govertsen said.
“We view the Manila market as one of the more exciting long-term growth stories in all of gaming given the strength in the economy, which in turn has created a very robust locals gaming market. The fact that Okada has an outsized share of supply bodes well for its future cash flow story as it captures a greater share of the market.”
Yip worked at Deutsche Bank for eight years, providing investment banking services to global gaming companies. He joined Union Gaming in 2016. He has also worked as an investment banker with TD Securities in Toronto, Canada and with Deloitte & Touche.
