• 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 fraud cases still weighed: Philippine Justice Sec

Jun 14, 2018 Newsdesk Latest News, Philippines, Top of the deck  


Okada fraud cases still weighed: Philippine Justice Sec

Allegations that Japanese gaming entrepreneur Kazuo Okada (pictured) was involved in a US$10-million swindle against Tiger Resort, Leisure and Entertainment Inc, a firm he founded to promote the Okada Manila casino resort in the Philippines, have not yet been fully laid to rest, the country’s Justice Secretary, Menardo Guevarra, was quoted on Wednesday as saying.

In the Philippines, such cases are referred to as potentially involving the crime of “estafa”.

Mr Guevarra’s comments came following reports that the allegations against Mr Okada had been dismissed by the Parañaque City prosecutor’s office.

The Secretary said he would assign the cases to another prosecutor for review.

“If upon review the DOJ [Department of Justice] sees it differently, the resolutions may be set aside, reversed or modified accordingly,” Mr Guevarra was cited by multiple news outlets as saying.

Tiger Resort, Leisure and Entertainment Inc had made to the prosecutor in Parañaque City a criminal complaint of two counts of fraud allegedly perpetrated by Mr Okada.

In one estafa case, Tiger Resort, Leisure and Entertainment – which is controlled by Japan-listed Universal Entertainment Corp, a firm also founded by Mr Okada but that is currently in dispute with him – accused Mr Okada of illegal disbursement of company funds amounting to US$3 million, without the approval of the board, reportedly for his consultancy work and for salaries.

The other estafa case involved a US$7-million contract to supply light-emitting diode (LED) fittings for Okada Manila, via what was described as Mr Okada’s own company, Aruze Philippines Manufacturing Inc, allegedly in collusion with an associate of Mr Okada that had been working for Tiger Resort, Leisure and Entertainment.


  • tweet
Related articles
  • Pagcor boss affirms some Ent City casinos have PIGO permits
    Pagcor boss affirms some Ent City...

    Dec 09, 2020  

  • Okada Manila warns on wrongful room resale, fake scents
    Okada Manila warns on wrongful room...

    Dec 04, 2020  

More news
  • CNY 2021 unlikely to boost Macau casinos, say observers
    CNY 2021 unlikely to boost Macau...

    Jan 15, 2021  

  • Mass market play record 65pct Macau GGR in 4Q: govt
    Mass market play record 65pct Macau GGR...

    Jan 15, 2021  


Latest News

CNY 2021 unlikely to boost Macau casinos, say observers

CNY 2021 unlikely to boost Macau casinos, say observers

Jan 15, 2021  

Recent advisory notices issued by a number of local authorities in mainland China, calling on residents not to travel during the February Chinese New Year (CNY) break, further clouds the prospects...
Read More
Mass market play record 65pct Macau GGR in 4Q: govt

Mass market play record 65pct Macau GGR in 4Q: govt

Jan 15, 2021  

Malaysia Covid outlook negative to Genting Bhd: Moody’s

Malaysia Covid outlook negative to Genting Bhd: Moody’s

Jan 15, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“We expect Las Vegas Sands to not have any material change in strategy. The focus remains developing Macau and Singapore”

Vitaly Umansky, Kelsey Zhu and Tianjiao Yu

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • Sheldon Adelson, self-declared casino industry iconoclastSheldon Adelson, self-declared casino industry iconoclast January 13, 2021
  • Casino entrepreneur Sheldon Adelson dies aged 87Casino entrepreneur Sheldon Adelson dies aged 87 January 12, 2021
  • Guangdong govt advises public to stay in province for CNYGuangdong govt advises public to stay in province for CNY January 11, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Revamped Nüwa hotel reopens Feb 8, says City of DreamsRevamped Nüwa hotel reopens Feb 8, says City of Dreams January 12, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us