Japanese pachinko, slot and arcade games manufacturer Universal Entertainment Corporation has reportedly announced that it is to file criminal charges regarding the attempted Tuesday takeover of its Okada Manila property in the Philippines.
According to a report from Inside Asian Gaming, the Tokyo-headquartered firm revealed that it intends to name billionaire businessman Kazuo Okada and his associates as defendants after the 993-room Entertainment City venue was temporarily seized by a group comprising 50 private security guards as well as local law enforcement officials. The company purportedly declared that this ‘illegal and violent’ act was led by former board member Antonio ‘Tonyboy’ Cojuangco and building contractor Dindo Espeleta with help from lawyer Florencio Herrera III.
The attempted Okada Manila takeover was reportedly initiated on behalf of Okada after the Supreme Court of the Philippines ruled that the 79-year-old was once again entitled to lead its Tiger Resort Leisure and Entertainment Incorporated operator. The source explained that this Manila-headquartered firm is a subsidiary of Universal Entertainment Corporation and purportedly sacked its founder in 2017 following the emergence of allegations that the businessman had misappropriated company funds.
Opened in December of 2015 by Tiger Resort Leisure and Entertainment Incorporated, the 108-acre Okada Manila property is home to a 284,283 sq ft casino offering over 3,000 slots as well as some 500 gaming tables. The $2.4 billion development also plays host to the world’s largest multi-color dancing fountain alongside the Cove Manila indoor beach club, a luxury spa and a 90,510 sq ft shopping center.
Universal Entertainment Corporation reportedly used an official Wednesday filing to proclaim that it will be filing criminal charges against Okada and his accomplices for ‘such serious criminal offences as trespassing, obstruction of business, unlawful occupation, theft, assault, injury and incitement’. It moreover purportedly stated that it does not recognize the authority of the Supreme Court of the Philippines over the Okada Manila venue because its Tiger Resort Asia Limited arm, which is registered in Hong Kong, owns 99.9% of Tiger Resort Leisure and Entertainment Incorporated’s voting rights.
In addressing Okada’s past role, Universal Entertainment Corporation reportedly pronounced that the businessman was dismissed from Tiger Resort Leisure and Entertainment Incorporated’s board in June of 2017 ‘in response to [his] misappropriation of approximately $15.4 million of the company’s and its subsidiaries’ funds’. The company also purportedly asserted that ‘a liability of damages lawsuit’ it brought against the billionaire ‘has already been confirmed’ while the Supreme Court of Japan issued a ruling in September ‘that there was no defamation with regards to the defamation lawsuit brought by Okada against the company and others.’
Reportedly read the filing from Universal Entertainment Corporation…
“It should also be noted that Okada is currently being sued by a law firm in Illinois for damages of approximately $53.9 million for non-payment of legal fees and another law firm in Hong Kong is also suing him for non-payment of fees.”