Universal Entertainment, operator of the Okada Manila integrated resort in the Philippines, has introduced a new management structure following shareholder approval at its annual general meeting, marking the latest step in its ongoing governance reforms.
According to a company filing, the group appointed six directors and established a revised board structure after its 53rd annual shareholders meeting held on March 27th. Tomohiro Okada, representative director and president, remains in his role overseeing the group. He is the son of Kazuo Okada, the billionaire founder of Universal Entertainment.
The new lineup includes both executive and non-executive directors, alongside an audit and supervisory committee framework aimed at strengthening oversight.
The changes build on reforms initiated in 2025, when the company transitioned to a governance model featuring an audit and supervisory committee, aligning more closely with international corporate governance standards. The updated structure further clarifies the division between supervisory and operational roles, with the board focusing on oversight while executive officers manage day-to-day operations.
The restructuring also appears designed to reduce the concentration of decision-making authority, part of broader efforts to enhance transparency and internal controls. Universal Entertainment has faced governance challenges in recent years, including leadership disputes that drew scrutiny from investors and regulators.
The latest changes come amid continued financial pressure. According to its latest financial report, the company posted a net loss attributable to owners of the parent of JPY231.43 billion ($1.52 billion), widening sharply from a net loss of JPY15.57 billion ($102 million) in 2024. The result was primarily driven by impairment losses related to Okada Manila.
Gross gaming revenue at Okada Manila declined 20.1 percent year-on-year in FY25, to PHP27.81 billion ($480.6 million), as the gaming market in Manila’s Entertainment City continued to undergo a prolonged correction.
