Universal Entertainment wins legal case against former auditor

Universal Entertainment Corporation has issued a statement that it has won a legal case against former company auditor Yuki Arai when the Tokyo High Court dismissed an appeal.

Notice of Formal Demand for Disciplinary Measures against Attorney (release)

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Universal Entertainment records January-September 17.5% revenue decline

Universal Entertainment records January-September 17.5% revenue decline

Universal Entertainment has recorded JPY77.1 billion (US$732 million) in revenues for the January-September nine-month period, a figure which was down 17.5 percent on a year-on-year basis. The net loss attributable to owners of the parent company came to JPY6.8 billion.

Universal Entertainment announces results of notes offering

Universal Entertainment has announced the results of its notes offering in respect to US$600 million in notes placed outside of Japan in December 2018. The Results of Consent Solicitation and Exchange Offer (JASDAQ filing)

Universal Entertainment boosts size of notes offering

Universal Entertainment, which controls the Okada Manila IR in the Philippines, has announced to JASDAQ that it will increase its planned notes offer from US$100 million to US$135 million.
Uncertainty for Okada Manila is “significant,”

Uncertainty for Okada Manila is “significant,” says Fitch

There is significant uncertainty about the recovery and expansion prospects of Okada Manila given the severity of the Covid-19 outbreak in the Philippines, Fitch Ratings said.
Kazuo Okada’s appeal against Universal Entertainment dismissed

Kazuo Okada’s appeal against Universal Entertainment dismissed

Universal Entertainment Corporation issued a statement on Friday announcing that the Tokyo High Court has dismissed its founder Kazuo Okada’s latest appeal against the company. According to the statement, “the Tokyo District Court, acknowledging that the fraudulent acts were conducted under the order of Mr. Okada, also acknowledged that Mr. Okada breached both his duty […]

Okada deploys robots, technology for cleaning

As Manila’s casinos gear up for reopening, Okada Manila says it’s deploying cutting-edge technology to sanitize its facilities, including robots.
Okada Manila

Okada Manila to reopen at 30 percent capacity

Universal Entertainment has confirmed its Okada Manila property will reopen at 30 percent of its capacity of table and machine games.

Universal H1 results get boost from pachinko and pachislot sales

Universal Entertainment bucked the trend by reporting a group-wide 24.9 percent increase in net sales for the first half of 2020, with brisk pachinko and pachislot sales overcoming losses at Okada Manila. The total net sales were JPY65.6 billion (US$619 million), producing an operating profit of almost JPY12.7 billion for the half. The positive news […]
Philippines casino

Okada Manila posts operating loss in 20Q1

Okada Manila posted a widened operating loss of JPY 1.7 billion (US$16 million) in the first quarter of 2020, due mainly to the suspension of all integrated resort operations from March 15, 2020.  Okada Manila’s parent company, Universal Entertainment Corporation (UEC) said this also resulted in a 6.3 percent decrease in net sales in the […]

Okada Manila to lay off over 1,000 staff members

Okada Manila President Takashi Oya announced to staff on Tuesday that more than one thousand employees would be laid off as part of a retrenchment program to remain “a viable business” in the Covid-19 era. “Not having any revenues since the lockdown has been financially draining and caused severe losses to the company,” Oya’s letter […]