Japan’s Universal Entertainment takes over operations of Okada Manila casino

MANILA (Reuters) – Japan’s Common Leisure Corp stated on Sunday its native representatives within the Philippines have taken over the operations of the Okada Manila playing resort, the most recent step in a long-running possession dispute.

Common stated in an announcement accompanied by a replica of a Sept. 2 order from the native gaming regulator that the takeover of the $3.3 billion playing resort, the biggest in Southeast Asia, had been “usually peaceable”.

The regulator, Philippine Amusement and Gaming Corp. (Pagcor), stated in its order that it was withdrawing its recognition of board members of Tiger Resort Leisure and Leisure, the developer and operator of Okada Manila, beforehand put in by a gaggle together with Japanese tycoon Kazuo Okada.

Pagcor additionally directed Okada’s Filipino companions to cease working the on line casino and disbursing funds from the property’s coffers.

Pagcor stated that solely Okada himself can be recognised henceforth, in compliance with a Philippine Supreme Courtroom order in April that reinstated the pachinko mogul as chairman, stockholder and director of Tiger Resort.

Okada had been ousted from each Tiger Resort’s and from Common’s boards in 2017.

The group of Okada and his Filipino associates, nonetheless, stated on Sunday that Pagcor had defied the Supreme Courtroom order and that they might take authorized motion over the matter. They didn’t elaborate.

In a discover issued on Saturday after the order from Pagcor, Okada Manila had stated “enterprise stays as traditional” on the 44-hectare (108-acre) resort.

Okada Manila began operations late in 2016. With 993 suites and villas, 500 desk video games and three,000 digital gaming machines, it’s the greatest of 4 multibillion-dollar casino-resorts working within the Philippine capital, which has one in every of Asia’s most freewheeling gaming industries.

(Reporting by Neil Jerome Morales; Enhancing by Hugh Lawson)