Kazuo Okada is the chairman of Universal Entertainment Corporation, and previously an executive of Wynn Resorts.
Universal Entertainment Corporation has announced that it has entered into an agreement with Guangcai Group to establish a 50-50 joint venture corporation for the sales and maintenance of its casino-related devices in Southeast Asia. The joint venture corporation, named Hong Kong Guangcai Universal Entertainment Limited, will be involved in the sales and maintenance business for […]
Japanese gaming supplier Universal Entertainment Corporation has denied a recent report suggesting that Kazuo Okada has been reinstalled as a director of Okada Holdings Ltd, its parent company. “Upon verifying the situation with Makoto Takada and Atsunobu Ishida, whom the company understands to be registered as directors of OHL, the company received the response that […]
Japanese slot machine manufacturer Universal Entertainment Corp says it has completed its third-party investigation into the alleged “fraudulent acts” conducted by gaming mogul Kazuo Okada between 2013 and 2015. The final investigative report, which was disclosed earlier this week, found Mr. Okada to be guilty of three separate fraudulent acts. The first act occurred between […]
Japanese gaming mogul Kazuo Okada has reportedly filed a lawsuit against his son, daughter and wife in an attempt to regain control of Okada Holdings Ltd, Reuters reports. Hong Kong-based Okada Holdings Ltd is the majority owner of Tokyo-listed gambling machine maker Universal Entertainment Corp. Speaking to Reuters on Thursday, Okada said the lawsuit was […]
Okada Manila parent company, Universal Entertainment Corp has announced elected a new board of directors on Thursday, and it appears the firm’s founder, Kazuo Okada is not on it. According to a company filing to JASDAQ on Thursday, the company’s shareholders approved the new board at the 44th General Meeting of Shareholders, along with a “new […]
Gaming mogul Kazuo Okada has been ousted as the chairman of Tiger Resort, Leisure, and Entertainment Inc, as a result of an investigation over an alleged improper transfer of funds. Earlier this month, parent company Universal Entertainment Corp announced it is investigating the possibility of “fraudulent acts” related to a JPY 2 billion loan conducted […]
Japanese slot machine manufacturer, Universal Entertainment Corp says it is investigating the possibility of “fraudulent acts” related to a JPY 2 billion loan conducted by its founder and chairman Kazuo Okada in 2015. In an extraordinary board meeting held on May 23, 2017, a report made by Mr. Nobuyoshi Ichikura, a full-time corporate auditor of […]
Casino operator Wynn Macau is reportedly being taken to court by a former Pagcor official, disputing the results of a 2011 report naming him and his wife as beneficiaries of an “improper relationship” between Kazuo Okada and Pagcor officials in 2008 and 2009, local media reports. According to information obtained by Macau Business Daily, Rogelio […]
Okada Manila, the newly opened $2.7 billion integrated resort in Entertainment City, is preparing to expand to its next phase later this year, local media reports. “We would be preparing for our Phase II starting this year, within the year. About 300,000 square meters will be developed for our Phase II,” said Japanese gaming mogul […]
Philippine’s largest integrated resort Okada Manila has pushed back the date of its grand opening to the end of March, according to a company press release. Earlier this month, Pagcor chief Andrea Domingo in an interview with The Inquirer was of the understanding that the resort’s full opening was scheduled for February 17. Tiger Resort […]
Wynn Resorts is attempting to overturn two district court orders directing it to hand over documents to Japanese gaming mogul Kazuo Okada as part of a long-running dispute over his ousting in 2012. Okada was removed from Wynn’s board in 2012 after it was revealed he was being probed for corruption, and was forcibly made […]
Okada Manila officially commenced its casino operations on December 30, after securing a provisional casino license from Philippine Amusement and Gaming Corp, local media reports. The $2.4 billion casino resort, developed by a subsidiary of Universal Entertainment, held a soft opening on December 21. A grand opening is scheduled for February 2017. “Okada Manila will […]
Universal Entertainment Corp. chairman Kazuo Okada says the Philippine gaming market could soon surpass Singapore as more Chinese tourists flow into the country, local media reports. Okada made the comments last week, praising President Rodrigo’s efforts in improving relations with China. “A lot of Chinese are coming into the Philippines, and that will improve more […]
Universal Entertainment has lost an appeal in a defamation suit against Reuters after a court upheld an earlier ruling that found the news agency did not imply bribery in an article about the company. The Japanese firm sued Reuters in December 2012, demanding 200 million yen ($1.8 million) and apologies, for stories relating to $40 […]
Tiger Resort, Leisure and Entertainment says it’s on track to open Okada Manila by year end, becoming the third and biggest property to open in Entertainment City. The new opening date is a month later than originally scheduled. Okada Manila is well on its way to completing its first phase which covers 22 hectares of […]
Japanese casino mogul Kazuo Okada has reportedly made a courtesy call to President Duterte, expressing his desire to participate in infrastructure projects. “Mr. Okada specifically expressed his desire to bid for the international airport. He believes the airport is your first contact and so your airport, if well designed and efficient, people will talk about […]
Kazuo Okada’s Manila Bay Resorts is on track to open by year end, local media reports. Tiger Resort president Steve Wolstenholme recently commented that the company remains confident about the opportunities in the country despite being the third player to open a gaming facility in Entertainment City. “The investment is on time. We will open […]
Japan’s Universal Entertainment Corp has announced it expects to record an 8.6 decline in profit in the fiscal year ending Mar. 31 at JPY9.3 billion (US$81.9 million), according to a recent announcement. The company, which is currently investing in the Manila Bay Resorts casino development in the Philippines, is run by gaming entrepreneur Kazuo Okada […]
Japanese billionaire Kazuo Okada will have to travel to the U.S. to face questioning over events leading to his ousting from Wynn Resorts’ board after failing to overturn a Nevada court order, Bloomberg reports. The ruling last Thursday from the Nevada Supreme Court upholds an earlier decision by a lower court that ordered Okada, head […]
Tiger Resort, Leisure and Entertainment announced it has partnered with a local Filipino firm to develop its Manila Bay Resorts project and build apartments, office towers and an opera house. The firm, All Seasons Hotels & Resorts Corp, headed by Antonio Cojuangco, will develop the non-gaming portion of the Manila Bay Resorts. “I can’t match […]
Universal Entertainment Corp announced that it will defend a lawsuit filed by an individual shareholder of the company claiming damages of nearly 421.6 billion yen ($3.42 billion). The claim stems from alleged losses as a result of action Wynn Resorts took to forcibly redeem chairman Kazuo Okada’s holding in the U.S. company after accusing him […]
Japan’s Universal Entertainment may have overcome a roadblock that was delaying its $2 billion integrated resort in Manila by selling its stake in a local affiliate that owns the majority of the land on which the casino is being built, according to media reports. Universal, controlled by billionaire Kazuo Okada, has sold its entire 40 […]
Tiger Resorts Leisure and Entertainment, the Philippine affiliate of billionaire Kazuo Okada’s Universal Entertainment, may have found a local partner for its Manila resort project, according to local media reports. The Star newspaper cited company officials as saying the company will announce a local partner “in the very near future” and is on track to […]
Japanese billionaire Kazuo Okada and his group have settled a legal dispute over a failed real estate venture with Century Properties in the Philippines, according to media reports. The developer was partnering with a property-based affiliate of Okada’s Universal to develop real estate and retail properties on the site of Universal’s planned integrated resort development […]
Century Properties Group said it has made a request for arbitration with the Hong Kong International Arbitration Center over a legal dispute with Japanese billionaire Kazuo Okada’s companies over a failed deal to develop an integrated resort in Manila’s Entertainment City. The Philippine property company said the Notice of Arbitration was filed April 17th and […]
The Philippines property market remains robust across all sectors as developers continue to expand amid the country’s strong growth and ahead of the Asean Economic Integration. The Philippines, whose fourth quarter GDP grew by 6.9 percent and annualized growth rate grew 6.1 percent, is drawing an influx of big investors, according to a report by […]
The Philippines’ Department of Justice has refuted a statement by Universal Entertainment saying that the National Bureau of Investigation has concluded its probe into allegations the company was involved in a bribery scandal. Amid an investigation into the company on suspicion a unit of Kazuo Okada’s Universal Entertainment Corp. paid a $5-million bribe to a […]
Universal Entertainment says the Philippines has decided to terminate an investigation into claims the Japanese company paid a bribe to officials of the Philippine Amusement and Gaming Corp. There was insufficient evidence to support the allegations after a year-long investigation, the company said in a release. The allegations related to the construction of the company’s […]
In a management analysis and discussion in its annual report, Wynn Macau highlighted the potential risks the company may face from the February resignation of founder and Chairman Steve Wynn following accusations of sexual harassment. “The resulting controversy related to Mr. Wynn and his separation from the group could significantly harm our business in numerous […]
Universal Entertainment said it has filed a lawsuit in the U.S. against its former Aruze Gaming America unit and former Chairman Kazuo Okada for alleged patent violations. The company said in a press statement that it filed suit in a District Court of the State of Nevada on March 30, seeking compensation from the two […]
The Department of Justice (DOJ) has issued a lookout bulletin against Kazuo Okada, who is now facing two counts of fraud and perjury, local media reports. The Immigration Lookout Bulletin Order (ILBO) was issued on Thursday by Justice Secretary Vitaliano Aguirre, who has mandated that all immigration officers in the country’s airports and seaports to […]
A further legal chapter in the long-running dispute between Japanese billionaire Kazuo Okada, Steve Wynn and his former wife, has been closed, potentially paving the way for the sale of their holdings in Wynn Resorts. In a Securities and Exchange Commission filing, Wynn Resorts said that Steve and Elaine Wynn presented the Judicial District Court […]
U.S.-based Wynn Resorts has ended its long running legal battle with Universal Entertainment by agreeing to pay a settlement of $2.4 billion. The settlement is part of a battle between Wynn Resorts and Universal founder Kazuo Okada, who was an early investor and board member of Wynn but was ousted after a falling out with […]
Universal Entertainment has filed civil and criminal complaints against Aruze Gaming America and billionaire Kazuo Okada claiming its patent rights were violated and seeking compensation.
Philippine prosecutors in Paranaque and Makati cities have dropped all charges filed against Japanese gaming billionaire Kazuo Okada.
Japanese gaming mogul Kazuo Okada is not completely clear of the $10 million fraud charges filed against him, which is still subject to review from the Department of Justice (DOJ), local media reports. Last month, the Parañaque Prosecutors Office dismissed the $10 million perjury and fraud complaints against Okada by Tiger Resorts Leisure & Entertainment […]
Universal Entertainment Corp, the company behind Okada Manila, is planning an intra-group “organizational realignment” aimed at protecting its businesses from “unsuitable individuals”. The restructuring was announced in a filing to JASDAQ on Friday last week. In order to achieve this, Limited Liability Company ABC will become the direct parent of Universal’s casino-related businesses, including Tiger […]
Japanese gaming mogul Kazuo Okada and an associate have been arrested by Hong Kong’s anti-corruption watchdog, according to a filing from Universal Entertainment Corp. According to local media reports, Okada and his associate, Li Jian, have been held by the Hong Kong Independent Commission Against Corruption (ICAC) for conspiracy to defraud Okada Holdings of $19.7 […]
Gaming mogul Kazuo Okada has fired back at the allegations made against him by Universal Entertainment Corporation, calling the allegations “false and malicious” and part of “the latest attempt by UEC to harm [his] reputation.” The press release, which was distributed by Aruze Gaming, clarified that no charges have been filed against Mr Okada. “These […]
Philippines-based Tiger Resort Leisure and Entertainment, operator of Okada Manila and a unit of the Universal Entertainment Corporation, will open an office in Tokyo with the aim of entering the domestic IR race.
Asiabest Group said the recent takeover accord reached with shareholders of Tiger Resort & Entertainment was duly authorized by the company and by its Japanese parent Universal Entertainment.
A Parañaque City trial court has affirmed the warrant of arrest issued earlier this year against Japanese gaming mogul Kazuo Okada, local media reports. Okada’s arrest warrant is in connection with charges that he embezzled more than $3 million from his own company. An arrest warrant was also issued for Takahiro Usui, the former president […]
Kazuo Okada has vowed to make use of all legal options to fight an arrest warrant laid against himself and the former president of Okada Manila, Takahiro Usui, in relation to allegations of estafa, local media reports. Last week, a Parañaque City trial court affirmed the warrant of arrest issued earlier this year against Kazuo […]
Embattled gaming mogul Kazuo Okada has fired back against officials of Tiger Resort Leisure and Entertainment Inc. (TRLEI), accusing them of conspiring to remove him from his own company, local media reports. Through his lawyers, Okada has filed qualified theft and estafa charges against the officials of Tiger Resorts, the operator of the Okada Manila […]
A Macau appeals court has upheld a ruling that sees Wynn Macau acquitted of a MOP8.2 billion (US$1 billion) compensation claim made by Japanese gaming mogul Kazuo Okada, Macau Business reports. Mr. Okada was removed from the Wynn’s board of directors in 2012 after the firm claimed he was “unsuitable” and a risk to its […]
Courts in Japan and the Philippines have rejected appeals from billionaire Kazuo Okada, who is seeking to regain control over his former gaming empire, according to media reports.
Universal Entertainment issued a statement on Wednesday revealing that it has won its damages suit against its former Chairman Kazuo Okada, and that he has been ordered by the court to pay an amount totalling nearly US$200,000. The damages suit was originally filed in November 2017 and the Tokyo District Court rendered its verdict last […]
As Tiger Resort Leisure & Entertainment's property in the Philippines begins to take its place on the Manila skyline, the sheer size and scale of the project is becoming apparent. The resort will be the third to open in the Entertainment City gaming hub and will be the biggest so far, on a site of about 44 hectares. The project stems from the vision of Japanese tycoon Kazuo Okada, who has a long association with the Philippines and a long-term faith in its future potential. AGB recently sat down with Tiger president Steve Wolstenholme who provided an update on progress and why he's so enthusiastic.