PAGCOR probes forceful takeover of Okada Manila by representatives of casino founder Kazuo Okada

June 3, 2022 Philippines Crime & Legal

The Philippine Amusement and Gaming Corp (PAGCOR) said on Wednesday that they are looking into an incident that involved an on-site confrontation between the then sitting management of Okada Manila and representatives of Okada Manila’s founder, Japanese casino billionaire Kazuo Okada, on the other. Tiger Resort Leisure and Entertainment released a statement saying that “a group of Kazuo Okada, illegally and violently took over the premises of Okada Manila, employing brute force and intimidation to compel key legitimate officers to vacate the premises”.

Alfredo Lim, PAGCOR President said that the regulator’s board was meeting to discuss the incident: “Our only concern in this corporate squabble between contending stockholders is that the operation is not disturbed,” he commented as reported by Reuters.

In April, the Philippines’ Supreme Court ruled that Okada could once again lead the Okada Manila integrated casino-resort as CEO of its operator Tiger Resorts, a position he was ousted from in 2017 on suspicion of misappropriating $3 million.

But Tiger Resorts – owned by Japan-based Universal Entertainment Inc – has appealed against the Supreme Court ruling. Okada was also ousted from Universal’s board in 2017, with directors accusing him of misappropriating $20 million in funds, which he denied.