Universal Regains Control of Okada Manila

Akihabara News (Tokyo) — Tokyo-based Universal Entertainment Corporation won a round against its founder Kazuo Okada when the Philippine Amusement and Gaming Corporation (PAGCOR), backed by the Philippine National Police, seized back control of the major casino resort, Okada Manila.

The event was nearly as dramatic as those from May, when Kazuo Okada’s allies, led by Antonio “Tony Boy” Cojuangco, forcefully took control of the property. Dozens of red-capped assailants, representing Universal Entertainment’s interests, scuffled with a similar number of hotel security officers. It was reported that the Cojuangco group also attempted to disable the elevators and shredded documents in a hotel room.

These dramatic scenes were teed up by a decision from the Philippine Department of Justice that the April 27 Supreme Court ruling, which called for a return to the status quo ante of 2017 before Kazuo Okada had been ousted from his leadership role, was not intended to provide him full control of Okada Manila, but rather that he should be restored to the board of directors.

In line with the Department of Justice decision, PAGCOR ordered the Cojuangco-led board– including Dindo Espeleta, Maximo Modesto Joel Flores, Tetsuya Yokota, and Hiroshi Kawamura–to “cease and desist from discharging their functions in connection with Okada Manila’s casino operations.”

In the wake of the raid, a new board representing Universal Entertainment’s interests and led by Byron Yip has taken over day-to-day management of the casino resort.

While Universal Entertainment has clearly regained the upper hand, the battle is not over. Kazuo Okada is back on the board of directors and the Philippine courts still need to untangle the corporate ownership and management status on a permanent basis.

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