Tag Archives: universal Entertainment
Philippines – Tiger removes Okada as Chairman of Okada Manila
Tiger Resort, the operator behind Okada Manila, the casino resort in the Philippines, has removed Kazuo Okada as its Chairman. Tiger Resort is owned by Japanese gaming giant Universal Entertainment, of which Mr Okada is the founder and Chairman. Universal on June 8 it was suspending Okada, pending investigation. He is accused, along with a…
Japan – Universal Entertainment takes action against its Founder Kazuo Okada
Universal Entertainment, the Philippine casino operator and Tokyo-based slots and pachinko manufacturer, has suspended its own CEO and Founder Kazuo Okada, pending an investigation in suspected fraudulent activity. The company has launched ‘a special investigation committee consisting of external experts’ to investigate a suspicious $17.3m transaction that Okada made to a company he controls. Universal…
Philippines – Okada Manila to open on December 21
Japan’s Universal Entertainment is delaying the opening of Okada Manila, its $2.4bn Manila casino, by a month to December due to bad weather, government policies and economic conditions. The opening has been confirmed for December 21. Okada Manila will boast 993 hotel rooms, 8,409 square meters of retail space, 500 table games and over 3,000…
Philippines – PAGCOR threatens Universal/Tiger with licence suspension
PAGCOR, the Philippine gaming regulator, has given Tiger Resorts, the operator controlled by Kazuo Okada’s Universal Entertainment, 90 days to explain why it shouldn’t have the licence for its future casino resort in the Philippines revoked. PAGCOR has already confiscated a $2.2m guarantee payment from Tiger, paid when it secured the licence for Manila Bay…
The Philippines – Universal says investigations have concluded without charge
Universal Entertainment has confirmed that investigations into its Chairman Kazuo Okada and its financial dealings in the Philippines and in Japan ‘have concluded’ adding that investigations in the United States would soon be concluded too due to a ‘lack of evidence.’ Some of Universal’s executives were being investigated for alleged illegal payments to smooth the…
The Philippines – Philippines’ court stops Universal from axing Century deal
A Makati Regional Trial Court in the Philippines has approved a court order stopping Kazuo Okada’s Universal Entertainment from making a u-turn on a real estate deal with Century Properties Group. Tokyo-based Universal Entertainment severed a deal with Century Properties which would have seen the Philippine-based company funded part of the US$2bn Manila Bay Resorts…
Philippines – Universal and Century Properties prepare for legal battle over Eagle 1 shares
Tokyo-based Universal Entertainment has severed a deal with Century Properties which would have seen the Philippine-based company funded part of the US$2bn Manila Bay Resorts casino complex it is developing on Manila Bay in the Philippines. Century Properties, who said it would contest the notice of termination, had agreed to buy a 36 per cent…
Philippines – Universal offloads 60 per cent of Manila Bay project
Universal Entertainment has signed a deal with a Philippine property developer as it looks to move forward with its US$2bn Tiger Resorts project in Pagcor Entertainment City. It has signed a deal with Century Properties Group who will develop five hectares of the 44-hectare site. Analysts believe that the agreement struck with Kazuo Okada’s Eagle…
Philippines – Philippine Economic Zone Authority clears Universal’s Tiger Resorts
Universal Entertainment, the operator owned by Kazuo Okada, has been cleared of any corruption allegations in relation to its Tiger Resorts casino venture in the Philippines. Philippine Economic Zone Authority (PEZA) Deputy Director-General Tereso Panga explained the process that Eagle 1 Landholdings Inc undertook to become an operator. Universal owns Tiger Resorts which in turn…
