PAGCOR baulks at stepping into Okada Manila ownership squabble

The President of Philippines gaming regulator PAGCOR said Wednesday that the agency is only concerned with ensuring operations continue at Okada Manila following a physical takeover of the property by a group representing Kazuo Okada this week.

Alfredo Lim initially told media outlet Reuters that he was “shocked to read there was violence and intimidation” of executives on Tuesday night after the Okada group and around 50 security guards and police officers stormed the building. But after PAGCOR met on Wednesday afternoon to discuss the issue, Lim described the transition of power as being “smooth”, adding, “Our only concern in this corporate squabble between contending stockholders is that the operation is not disturbed.”

His comments come after the Okada camp issued a statement of its own denying reports of violence and claiming that PAGCOR representatives had in fact been present to witness Tuesday’s takeover.

Source: https://www.asgam.com/index.php/2022/06/02/pagcor-baulks-at-stepping-into-okada-manila-ownership-squabble/