• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 26 March 2023
    IAG
    Advertisement
    • Newsfeed
    • Mag Articles
    • Video
    • Opinion
    • Tags
    • Regional
      • Africa
      • Australia
      • Cambodia
      • China
      • CNMI
      • Europe
      • Hong Kong
      • India
      • Japan
      • Laos
      • Latin America
      • Malaysia
      • Macau
      • Nepal
      • New Zealand
      • North America
      • North Korea
      • Philippines
      • Russia
      • Singapore
      • South Korea
      • Sri Lanka
      • Thailand
      • Vietnam
    • Events
    • Consulting
    • Contributors
    • SUBSCRIBE FREE
    No Result
    View All Result
    IAG
    • Newsfeed
    • Mag Articles
    • Video
    • Opinion
    • Tags
    • Regional
      • Africa
      • Australia
      • Cambodia
      • China
      • CNMI
      • Europe
      • Hong Kong
      • India
      • Japan
      • Laos
      • Latin America
      • Malaysia
      • Macau
      • Nepal
      • New Zealand
      • North America
      • North Korea
      • Philippines
      • Russia
      • Singapore
      • South Korea
      • Sri Lanka
      • Thailand
      • Vietnam
    • Events
    • Consulting
    • Contributors
    • SUBSCRIBE FREE
    No Result
    View All Result
    IAG
    No Result
    View All Result

    Okada claims Universal framed him with phony deals

    Muhammad Cohen by Muhammad Cohen
    Wed 22 Aug 2018 at 15:42
    Okada claims Universal framed him with phony deals
    Print Friendly, PDF & Email

    Universal Entertainment founder Kazuo Okada claims that company executives began plotting as early as 2012 to oust him as chairman last June. As part of a wide-ranging interview to appear in the October issue of Inside Asian Gaming, Okada contends he was framed by Universal President Jun Fujimoto and his allies, asserting they performed questionable financial transactions, then pointed the finger at Okada, alleging the billionaire had abused company funds to enrich himself by some US$22 million.

    “I love Universal. I created Universal. I’m trying to protect it,” Okada declared through a translator. “Is that person going to take these petty actions?”

    A leading producer of pachinko machines, Universal also owns integrated resort Okada Manila. In the years before and after the IR’s December 2016 opening, Okada says he was focused on that signature project, present in Manila all but a few days a month.

    “While I was away, people were taking advantage, readying their intricate plans,” he says. “I plan to get back my company. I need to clear my name and prove I have done nothing wrong.”

    When and if he does regain control of Universal, Okada plans to pursue a license for an integrated resort in Japan, believing he has an edge due to his experience in casino development and creating pachinko machines for Japanese players as well as casino gaming machines globally through personally owned Aruze Gaming.

    Okada also says he also will seek to overturn the settlement between Wynn Resorts and Universal stemming from the 2012 seizure of Universal’s shares over US$110,000 in alleged excessive hospitality to Philippine officials, documented by a special investigation headed by former US FBI Director Louis Freeh.

    “I’m the chairman of the corporation; I’m not watching what every salesman spends,” Okada says. “When Freeh mentioned US$110,000 over three years, my reaction was: a little over US$35,000 a year, this number you’re talking about, is it truly a problem?”

    Universal did not respond to inquiries from Inside Asian Gaming regarding Okada’s assertions.

    RelatedPosts

    Genting approved for feasibility study into US$600 million monorail system linking planned site of Miami casino complex

    Bids for purchase of Genting’s Miami land parcel near US$1.5 billion

    Sun 26 Mar 2023 at 07:18
    Private: Philippines police arrest five Chinese nationals found holding kidnapped man in room at Okada Manila

    Universal Entertainment Corp says affiliate now planning to develop land near Okada Manila following collapsed sale

    Fri 24 Mar 2023 at 05:21
    IAG announces first ever MAD double-header with Manila After Dark on 20 April and Macau After Dark on 25 April

    IAG announces first ever MAD double-header with Manila After Dark on 20 April and Macau After Dark on 25 April

    Thu 23 Mar 2023 at 13:31
    Manila to drop all capacity restrictions from 1 March

    AMLC report finds some Philippines junkets failing to report on suspicious transactions in breach of casino agreements

    Thu 23 Mar 2023 at 05:01
    Load More
    Share2Share
    Muhammad Cohen

    Muhammad Cohen

    Muhammad Cohen is Editor at Large of Inside Asian Gaming, a contributor to Forbes Asia and wrote Hong Kong On Air, a novel set during the 1997 handover about TV news, love, betrayal, high finance and cheap lingerie.

    Current Issue

    Editorial: Corporate punishment: When is enough, enough?

    Editorial: Corporate punishment: When is enough, enough?

    by Ben Blaschke
    Fri 3 Mar 2023 at 03:15

    I’ll start this column with full disclosure: I’m a shareholder in Star Entertainment Group, so what I’m about to say...

    Cashless is King

    Cashless is King

    by Ben Blaschke
    Fri 3 Mar 2023 at 02:57

    With mandatory cashless gaming now a hot topic in the Australian state of New South Wales amid moves to make...

    Problem or Panacea?

    Problem or Panacea?

    by Paul Newson
    Fri 3 Mar 2023 at 02:41

    Former NSW gaming regulator Paul Newson examines the pros and cons of the state government’s current push to introduce mandatory...

    Hidden Enemies

    Hidden Enemies

    by Ben Blaschke
    Fri 3 Mar 2023 at 02:11

    Ahead of this year’s “Regulating the Game” gambling regulation education program, to be held at ICC Sydney from 6 to...

    Softswiss
    Evolution Asia
    Aristocrat
    Solaire
    Solaire
    Beter

    Related Posts

    Genting approved for feasibility study into US$600 million monorail system linking planned site of Miami casino complex

    Bids for purchase of Genting’s Miami land parcel near US$1.5 billion

    by Newsdesk
    Sun 26 Mar 2023 at 07:18

    A 16-acre parcel of prime Miami real estate recently put up for sale by Malaysian gaming giant Genting Berhad has attracted five offers of over US$1 billion, including one of almost US$1.5 billion, according to a report by Bloomberg. Less...

    Macau Health Code system to be deactivated from Monday

    Macau Health Code system to be deactivated from Monday

    by Pierce Chan
    Sun 26 Mar 2023 at 07:05

    The Macau government has announced that the Macau Health Code system will be deactivated from Monday, and all personal information and records in the health code will be completely erased. According to the Novel Coronavirus Response and Coordination Center, the...

    Private: Philippines police arrest five Chinese nationals found holding kidnapped man in room at Okada Manila

    Universal Entertainment Corp says affiliate now planning to develop land near Okada Manila following collapsed sale

    by Ben Blaschke
    Fri 24 Mar 2023 at 05:21

    Japan’s Universal Entertainment Corp (UEC) said Thursday that an equity-method affiliate that owns a 9.4-hectare parcel of land alongside its Philippines integrated resort Okada Manila now plans to develop the land following the collapse of a previously agreed sale. The...

    We’re Back!

    Singapore Tourism Board agrees one year extension to start of US$3.3 billion MBS expansion project until April 2024

    by Ben Blaschke
    Fri 24 Mar 2023 at 05:03

    The operating entity of Singapore’s Marina Bay Sands revealed Friday morning (Asia time) that is has signed a supplemental agreement with the Singapore Tourism Board granting it an additional 12-month extension, until April 2024, to the deadline for commencing its...


    Evoplay

    IAG

    © 2005-2023
    Inside Asian Gaming.
    All rights reserved.

    • SUBSCRIBE FREE
    • NEWSFEED
    • MAG ARTICLES
    • VIDEO
    • OPINION
    • TAGS
    • REGIONAL
    • EVENTS
    • CONSULTING
    • CONTRIBUTORS
    • MAGAZINES
    • ABOUT
    • CONTACT
    • ADVERTISE

    No Result
    View All Result
    • Subscribe
    • Newsfeed
    • Mag Articles
    • Video
    • Opinion
    • Tags
    • Regional
    • Events
    • Contributors
    • Consulting
    • Magazines
    • Advertise
    • Contact
    • About

    © 2005-2023
    Inside Asian Gaming.
    All rights reserved.