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Universal Entertainment Corp., a Japanese manufacturer of pachinko, slot machines, arcade games other and gaming products, has finally taken over the operations and management of Okada Manila Casino after a long period of management dispute against the Tiger Resort Leisure and Entertainment Inc. (TRLEI) board members.
As per Reuters, Universal Entertainment Corp. confirmed on Sunday, Sept. 4, that its official representatives in the Philippines had regained the power to operate Okada Manila’s casino.
The company further affirmed the news by showing a copy of an order from the Philippine’s gaming regulator, Philippine Amusement and Gaming Corp. (PAGCOR), stating it has issued a cease and desist order for TRLEI’s board members who are currently managing the casino in the hotel.
The Japanese company also revealed that the takeover had been generally peaceful despite a brief minor scuffle after the board that was personally appointed by Japanese magnate Kazuo Okada, attempted to stop the government authorities from entering the premises of Okada Manila. The change of management was handled peacefully after the authorities served the order to the board and directed them to leave.
The transition happened after PAGCOR withdrew its earlier decision to recognize the board members of Tiger Resort Leisure and Entertainment as the casino’s rightful operator. TRLEI is the developer and operator of Okada Manila, and it installed a group of executives to manage the hotel’s casino, but this move was later declared illegal.
Aside from the transfer of management, the local regulator also reinstated the legitimate board members and ordered the group of Antonio Cojuangco to vacate the offices based on a status quo ante order (SQAO) that was handed down by the Supreme Court in connection with the management and operation of Okada Manila.
Dindo Espeleta III, Maximo Modesto Joel C. Flores, Hiroshi Kawamura, and Tetsuya Yokota’s authority over the casino has been revoked as well, and they are barred from doing any function related to Okada Manila’s casino operations including further disbursing of funds. PAGCOR has now allowed representatives of Tiger Resorts Asia Limited or TRAL to assume management of TRLEI.
“We believe that the order from Pagcor affirms our position in the intra-corporate dispute in Okada Manila,” the Business Mirror quoted Kenshi Asano, TRAL’s director, said in a statement.
“It is consistent with both the letter and spirit of the SQAO of the Supreme Court. We are hopeful that both the high tribunal and the Court of Appeals will agree and this issue can be put to rest very soon.”
