Japanese conglomerate Universal Entertainment Corp, the parent company of Okada Manila, has completed the early redemption of overseas privately placed notes valued at $760 million.

Okada Manila operator Universal Entertainment has announced that its former President and CEO Jun Fujimoto has resigned from his position as Director of the company, effective from August 30th, ahead of a September 19th meeting set to oust the official from the role.

The parent company of Okada Manila, Universal Entertainment, has announced that the son of its ousted founder Tomohiro Okada is up for election as a Director of its board and that it plans to dismiss its former CEO from his directorship role.

Universal Entertainment Corporation has reported a significant decline in its financial performance for the second quarter of 2024, with both sales and profits falling sharply compared to the previous year.

Universal Entertainment announced plans to issue new notes to raise funds for refinancing its existing notes, which have a principal amount of $760 million and are set to mature in December 2024.

The Board of Directors of Universal Entertainment Corp. will convene an extraordinary general shareholders’ meeting in September 2024 in which a vote will be held to decide if the group will dismiss former CEO, Jun Fujimoto, from its Board.

Universal Entertainment, the parent company of the Okada Manila casino resort in the Philippines, has announced that it has taken 'necessary measures’ to secure its ‘right to claim damages against’ Jun Fujimoto, who resigned as president in April.

Japan's Universal Entertainment has faced a legal setback, after the Tokyo High Court delivered a verdict against its founder and CEO, Jun Fujimoto, in a shareholder lawsuit.

Japan’s Universal Entertainment has announced a 147 percent surge in net income attributable to parent owners, reaching JPY28.4 billion ($189 million) in 2023.

Universal Entertainment sees its investment into Cebu-based Emerald Bay as its “next step”, according to the Chief Managing Director of Okada Manila, as the group is expecting even stronger returns next year.