• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Okada files suit to nullify Okada Manila firm ousting

Sep 10, 2018 Newsdesk Latest News, Philippines, Top of the deck  


Okada files suit to nullify Okada Manila firm ousting

Japanese entrepreneur Kazuo Okada (pictured) has filed suit in the Philippines against Tiger Resort, Leisure and Entertainment Inc, the operator of the Okada Manila casino resort to nullify the businessman’s removal as shareholder, director and officer of that company, according to a court filing dated August 29 seen by GGRAsia. The document also names as defendants some of the company’s directors and officers.

Mr Okada – who is also separately contesting his ousting as chairman of Universal Entertainment Corp, the Japanese parent of Tiger Resort, Leisure and Entertainment – filed his latest action with the Regional Trial Court, Parañaque City, according to the document.

The paper said that Mr Okada had been removed from Tiger Resort, Leisure and Entertainment as a result of losing control of a Hong Kong-registered private company called Okada Holdings Ltd, which according to the latest court document has a 67.9-percent stake in Universal Entertainment.

The latest action is known under local law as an intra-corporate suit.

In a separate press release announcing the filing of the lawsuit in the Philippines, Mr Okada was quoted as saying that the “past months have been very harrowing and painful as I witnessed our family being attacked”. He added that his son and daughter “were used against” him in a bid to oust him as chairman of Universal Entertainment and its subsidiaries.

In a recent interview with GGRAsia, Mr Okada said he was trying to regain the support of his son Tomohiro Okada, in order to reassert control over the family business.

It was reported in May that Mr Okada had been cleared in fraud, perjury complaints in the Philippines. The complaints were filed in January by Tiger Resort, Leisure and Entertainment. But the country’s Justice Secretary, Menardo Guevarra, said in June that the allegations against the Japanese gaming entrepreneur had not yet been fully laid to rest.


  • tweet
Related articles
  • Outlook solid on mulled Okada Manila Spac IPO: analysis
    Outlook solid on mulled Okada Manila...

    Feb 19, 2021  

  • TCS John Huxley installs Blaze products at Okada Manila
    TCS John Huxley installs Blaze...

    Jan 26, 2021  

More news
  • LVS plans to keep U.S. base, stock listing: spokesman
    LVS plans to keep U.S. base, stock...

    Mar 04, 2021  

  • Pansy Ho again cuts stake in MGM Resorts, for US$57mln
    Pansy Ho again cuts stake in MGM...

    Mar 04, 2021  


Latest News

LVS plans to keep U.S. base, stock listing: spokesman

LVS plans to keep U.S. base, stock listing: spokesman

Mar 04, 2021  

Casino group Las Vegas Sands Corp intends to keep its headquarters and its current stock listing in the United States, a spokesman told GGRAsia in response to our enquiry. “The company plans to...
Read More
Pansy Ho again cuts stake in MGM Resorts, for US$57mln

Pansy Ho again cuts stake in MGM Resorts, for US$57mln

Mar 04, 2021  

Nevada sell-off by LVS may aid dividend return: Bernstein

Nevada sell-off by LVS may aid dividend return: Bernstein

Mar 04, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Asia remains the backbone of this company and our developments in Macau and Singapore are the centre of our attention”

Robert Goldstein

Chairman and chief executive of casino operator Las Vegas Sands



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us