• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Japan court rules Okada Universal move invalid: reports

Jul 19, 2019 Newsdesk Japan, Latest News, Philippines, Top of the deck  


Japan court rules Okada Universal move invalid: reports

Philippine media report that the Tokyo High Court has dismissed a legal bid by Japanese entrepreneur Kazuo Okada (pictured) that might have allowed him to regain control of Universal Entertainment Corp, the Japanese conglomerate he founded but from which he was ousted in June 2017.

It was also reported that the Parañaque Regional Trial Court in Manila had separately denied earlier this month an attempt by Mr Okada to overturn a Philippine arrest warrant in connection with allegations against him in that country of “estafa”, a form of fraud.

In the Tokyo process, the court reportedly dismissed an appeal against a decision by a lower Japanese court that had upheld a trust agreement relating to a Hong Kong-registered company controlling a majority of Universal Entertainment’s shares. Lawyers for Mr Okada said in February his side would contest the decision of the Tokyo court that ruled as valid the 2017 agreement.

Under that agreement, Mr Okada’s daughter Hiromi had assigned certain voting rights in family-related business to her brother Hiromi, giving the latter effective control over privately-held Hong Kong-based Okada Holdings Ltd, the majority shareholder of Japan-listed gaming conglomerate Universal Entertainment.

Universal Entertainment in turn controls Tiger Resort, Leisure and Entertainment Inc, the promoter of the Okada Manila casino resort in Manila. The venue this week reported casino gross gaming revenue up 45 percent in the six months to June 30.


  • tweet
Related articles
  • Universal Ent affiliate to develop land next to Okada Manila
    Universal Ent affiliate to develop land...

    Mar 24, 2023  

  • Universal Ent counterclaims are desperate: 26 Capital
    Universal Ent counterclaims are...

    Mar 21, 2023  

More news
  • APE narrows annual loss as revenue up 38pct
    APE narrows annual loss as revenue up...

    Mar 28, 2023  

  • Foreigners can use HK-Macau free ticket says tourism boss
    Foreigners can use HK-Macau free ticket...

    Mar 27, 2023  


Latest News

APE narrows annual loss as revenue up 38pct

APE narrows annual loss as revenue up 38pct

Mar 28, 2023  

Hong Kong-listed Asia Pioneer Entertainment Holdings Ltd (APE) reported revenue of just above HKD10.5 million (US$1.3 million) for full-year 2022, up 37.7 percent from the prior year. The firm...
Read More
Foreigners can use HK-Macau free ticket says tourism boss

Foreigners can use HK-Macau free ticket says tourism boss

Mar 27, 2023  

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Mar 27, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us