• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 4 December 2023
    • 中文
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
  • 中文
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
  • 中文
No Result
View All Result
IAG
No Result
View All Result

VIDEO: Universal accuses PAGCOR of “graft and corruption” for siding with Kazuo Okada group in battle for Okada Manila

Ben Blaschke by Ben Blaschke
Sun 5 Jun 2022 at 15:31
VIDEO: Universal accuses PAGCOR of “graft and corruption” for siding with Kazuo Okada group in battle for Okada Manila
144
SHARES
3.6k
VIEWS
Print Friendly, PDF & Email

Japan’s Universal Entertainment Corp (UEC), the parent company of Okada Manila operator Tiger Resort, Leisure and Entertainment Inc (TRLEI), has accused Philippines gaming regulator PAGCOR of an “act of graft and corruption” for taking the side of gaming magnate Kazuo Okada in a corporate dispute over control of the integrated resort in Manila’s entertainment city.

It has also released new video footage which appears to show TRLEI staff being forcibly removed during a takeover of Okada Manila by representatives of Kazuo Okada last Tuesday – footage it says contradicts claims made by PAGCOR President Alfredo Lim that the takeover was “smooth”.

New video which appears to show Mr Hajime Tokuda, a director of Universal Entertainment, at Okada Manila crying out, “itai, itai, itai” (痛い痛い痛い, Japanese for “it hurts, it hurts, it hurts”) and “pain, pain, pain” in English.

As reported by Inside Asian Gaming, the forced takeover – which reportedly saw the Kazuo Okada group accompanied by around 50 private guards, police officers of Paranaque City Police and a Sheriff of the Regional Trial Court of Paranaque City – came after the Supreme Court of the Philippines recently issued a Status Quo Ante Order (SQAO) to TRLEI ordering restoration of the composition of the board of directors of TRLEI to its 2017 line-up, before the dispute that saw Kazuo Okada removed from the UEC board.

PAGCOR has since confirmed it was also present at the time, having assigned a monitoring team to witness the incident “with the purpose of protecting the interests of PAGCOR and the Government, and to ensure that operations are not disrupted and the welfare of the playing patrons is ensured.”

The regulator added that it was “duty bound to observe due process and comply with the issuances and directives of the Supreme Court,” which UEC said has included PAGCOR agreeing to the Kazuo Okada group’s request to deny UEC access to revenues generated by TRLEI through Okada Manila and to recognize group member Dindo A Espeleta as TRLEI’s new representative.

However, in a statement sent to IAG on Friday evening, UEC said it vehemently denounces the decision of PAGCOR to “blatantly take the side of the usurper Kazuo Okada in the ongoing intra-corporate dispute.”

“On 22 May 2022, PAGCOR and the Kazuo Group held a meeting, electing Espeleta as TRLEI’s supposed representative to PAGCOR,” UEC said. “[PAGCOR’s] bias towards the Kazuo Group manifested heavily during the flagrantly violent takeover of Okada Manila by the Kazuo Group.

“PAGCOR’s President and Chief Operating Officer Mr Alfredo Lim was quoted as saying that the takeover was peaceful and orderly — this despite the viral videos showing the complete opposite.

“Furthermore, the Kazuo Group claimed that PAGCOR recognizes his sham board of directors.

“Based on its mandate, PAGCOR, a government-owned or controlled corporation (GOCC), is only mandated by Presidential Decree No. 1869 to ‘regulate, operate, authorize and license games of chance, games of cards and games of numbers, particularly casino gaming in the Philippines.’ It is not authorized by law to adjudicate intra-corporate disputes.

“Moreover, PAGCOR is not permitted to exercise its regulatory powers by favoring a party in an intra-corporate dispute, a matter well within the jurisdiction of the Securities and Exchange Commission (SEC).

“Thus, it is a blatant disregard of the parties’ legal rights that PAGCOR has shed its neutrality in this intra-corporate dispute by openly recognizing the sham board without any legal and factual basis.”

UEC said this “manifest bias is an act of graft and corruption under Republic Act [No.] 3019,” and pointed to Section 3 of the Act, which states, “The following shall constitute corrupt practices of any public officer and are hereby declared to be unlawful … Causing any undue injury to any party, including the Government, or giving any private party any unwarranted benefits, advantage or preference in the discharge of his official administrative or judicial functions through manifest partiality, evident bad faith or gross inexcusable negligence.”

UEC also reiterated its stance that only the shareholders of its Hong Kong-registered subsidiary Tiger Resort Asia Ltd (TRAL) – which owns 99.9% of TRLEI – are entitled to elect TRLEI’s Board of Directors, and that even if the SQAO is enforced, the newly-installed Board is not the same Board that existed in 2017.

TRLEI counsel Atty. Estrella Elamparo had alluded to this on Wednesday, the day following the physical takeover, when she noted that in 2017 Kazuo Okada owned only one share in TRLEI, a company with some 5 billion ordinary shares on issue, and even that single share was removed from him later that year.

“PAGCOR is well aware of these facts and yet it has acted with obvious bias in favor of the Kazuo Group,” UEC said in the Friday evening statement.

“We urge PAGCOR to adopt a neutral stance in the intra-corporate dispute and be more mindful of its mandate as a GOCC.

“The public can rest assured that UEC, TRAL and the legitimate Board members of TRLEI will not relent in exhausting all legal remedies to right the wrong that has recently been committed against the company and protect the interests of all stakeholders.”

RelatedPosts

Aristocrat’s Tian Ci Jin Lu becomes first game to feature on NUSTAR’s exterior Jumbotron 3D LED billboard

Aristocrat’s Tian Ci Jin Lu becomes first game to feature on NUSTAR’s exterior Jumbotron 3D LED billboard

Mon 4 Dec 2023 at 12:48
Hann Resorts breaks ground on Philippines’ first Banyan Tree luxury resort as part of New Clark City’s Hann Reserve development

Hann Resorts breaks ground on Philippines’ first Banyan Tree luxury resort as part of New Clark City’s Hann Reserve development

Mon 4 Dec 2023 at 10:23
Philippines gaming industry on show as City of Dreams Manila hosts final Manila After Dark of 2023

Philippines gaming industry on show as City of Dreams Manila hosts final Manila After Dark of 2023

Mon 4 Dec 2023 at 06:00
PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended

Philippines’ Anti-Money Laundering Counsel says increased controls on casino junkets among key AML measures now underway

Mon 4 Dec 2023 at 04:34
Load More
Tags: corruptionKazuo OkadaOkada ManilaPAGCORPhilippinesTiger ResortUniversal Entertainment CorpVideo
Share58Share10
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – India: A tale of taxes

Editorial – India: A tale of taxes

by Ben Blaschke
Mon 20 Nov 2023 at 03:00

Boasting the largest population on the planet as of April 2023, India is arguably the single most exciting gaming jurisdiction...

The 2023 Asian Gaming Power 50

The 2023 Asian Gaming Power 50

by Andrew W Scott
Mon 20 Nov 2023 at 02:38

Long established as the definitive list of the most influential figures and personalities in the regional industry, IAG’s Asian Gaming...

2023 Asian Gaming Power 50: Meet the panel

2023 Asian Gaming Power 50: Meet the panel

by Newsdesk
Mon 20 Nov 2023 at 02:02

IAG introduces the eight members of the judging panel who have determined this year’s Asian Gaming Power 50 list.

2023 Asian Gaming Power 50: Number 9 – Patrick Dumont

2023 Asian Gaming Power 50: Number 1 – Francis Lui

by Newsdesk
Mon 20 Nov 2023 at 00:28

Just as Francis Lui and the Galaxy Entertainment Group empire he oversees was best positioned of all Macau concessionaires to...

Softswiss
Evolution Asia
Aristocrat
Megapari
Solaire
Hann
FBM
Lady Luck Games
Okada Manila
IGT
NWR

Related Posts

Macau Jockey Club’s accumulated losses climb by another US$25 million in 2022

Legislator calls for Macau Jockey Club and racecourse to be turned into world-class sports facility

by Pierce Chan
Mon 4 Dec 2023 at 18:08

Macau Legislative Assembly (AL) member Leong Sun Iok has called for Macau Jockey Club to be developed into a sports and leisure destination that embraces the culture of horse racing, as well as sports events and activities such as cycling...

Macau’s mass GGR reached 70% of pre-COVID levels in March, aided by further China reopening: analysts

Macau’s gaming-related crime cases up 176% in first nine months of 2023

by Pierce Chan
Mon 4 Dec 2023 at 18:03

Macau’s Secretary for Security, Wong Sio Chak, said Monday there were a total of 9,653 criminal activities in the SAR between 1 January and 30 September 2023 of which 716 were gaming-related. He also revealed that gaming-related crimes were up...

Team Spirit

IAG announces Light & Wonder as Diamond Sponsor, Aristocrat, IGT and Macau Slot as Gold Sponsors of Macau After Dark at Artyzen Grand Lapa on 15 December

by Newsdesk
Mon 4 Dec 2023 at 18:00

Inside Asian Gaming is delighted to announce global gaming suppliers Light & Wonder as Diamond Sponsor and Aristocrat Gaming, Macau Slot and IGT as Gold Sponsors of the upcoming edition of Macau After Dark, MAD 21, to be held on the...

Aristocrat’s Tian Ci Jin Lu becomes first game to feature on NUSTAR’s exterior Jumbotron 3D LED billboard

Aristocrat’s Tian Ci Jin Lu becomes first game to feature on NUSTAR’s exterior Jumbotron 3D LED billboard

by Newsdesk
Mon 4 Dec 2023 at 12:48

Aristocrat Gaming’s award-winning game Tian Ci Jin Lu has made its way to the exterior Jumbotron at NUSTAR Resort and Casino in Cebu. The eye-catching display debuted on the largest 3D LED billboard in the Philippines late last week, with...



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
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About

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

  • 中文
  • English