{"id":30924,"date":"2022-06-20T02:56:49","date_gmt":"2022-06-20T05:56:49","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30924"},"modified":"2026-04-23T07:39:39","modified_gmt":"2026-04-23T10:39:39","slug":"universal-says-okada-manila-bank-accounts-frozen","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/universal-says-okada-manila-bank-accounts-frozen","title":{"rendered":"Universal says Okada Manila bank accounts frozen"},"content":{"rendered":"\n

Three banks are said to have frozen Okada Manila’s accounts due to the ongoing intra-corporate dispute.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- In a further attempt to\u00a0retake control of Okada Manila<\/strong>, Universal Entertainment Corp has reported that three Philippine banks have frozen accounts held by Okada Manila following the controversial return of Kazuo Okada.<\/p>\n\n\n\n

The banks involved are BDO Unibank (BDO), Asia United Bank (AUB), and Union Bank of the Philippines. According to Universal Entertainment Corp, this raises questions about the financial stability of the casino resort.<\/p>\n\n\n\n

Estrella Elamparo, the attorney representing Universal, said that Kazuo Okada\u2019s team may choose to use the cage money or revenues generated from the casino and hotel to finance operations and wages. However, she warned that those funds could be expected to run dry soon.<\/p>\n\n\n\n

Last week,\u00a0Universal Entertainment <\/strong>accused the Philippine casino regulator\u00a0PAGCOR<\/a>\u00a0of \u201cbiased participation\u201d in the dispute between the company and a group led by Japanese billionaire Kazuo Okada, which it claims took control of the Okada venue by force on May 31.<\/p>\n\n\n\n

PAGCOR<\/a>\u00a0had said it had arranged for a team to investigate allegations of a possible violent takeover of Okada Manila by a group linked to Okada. However, Universal Entertainment said that PAGCOR had sided with Kazuo Okada.<\/p>\n\n\n\n

Tiger Resort Asia Ltd<\/a>\u00a0(TRAL), which owns 99.9 per cent of the shares of Okada Manila Tiger Resort Leisure and Entertainment Inc (TRLEI), has warned that \u201cany transaction supposedly made on behalf of TRLEI, our subsidiary, by any of these individuals or their agents and representatives, will not be honoured or recognized.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Three banks are said to have frozen Okada Manila’s accounts due to the ongoing intra-corporate dispute.<\/p>\n","protected":false},"author":176,"featured_media":13627,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Three Philippine banks, BDO Unibank, Asia United Bank, and Union Bank of the Philippines, have reportedly frozen Okada Manila's accounts amidst an ongoing intra-corporate dispute between Universal Entertainment Corp and a group led by Kazuo Okada. This action raises significant concerns regarding the casino resort's financial stability and operational continuity, with Universal Entertainment also accusing regulator PAGCOR of biased involvement.","focusai_entities":"Universal Entertainment Corp, Okada Manila, Kazuo Okada, BDO Unibank, Asia United Bank, Union Bank of the Philippines, Estrella Elamparo, PAGCOR, Tiger Resort Asia Ltd, Tiger Resort Leisure and Entertainment Inc","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.95), operator_casino (0.9), payments_fraud_aml (0.75), investor_analyst (0.98), supplier_vendor (0.8), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Okada Manila Financial Impact","query":"What is the projected timeline for Okada Manila's operational solvency given the frozen accounts and the potential depletion of cage money, and what contingency plans are being considered?"},{"label":"PAGCOR Regulatory Stance","query":"How will PAGCOR address the allegations of biased participation in the Okada Manila dispute, and what measures will be implemented to ensure regulatory impartiality and market stability?"}],"footnotes":""},"categories":[156,16333],"tags":[8986,24149,23749],"class_list":["post-30924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-news","category-south-east-asia-news","tag-okada-manila","tag-tiger-resorts-and-leisure-and-entertainment","tag-universal-entertainment-corporation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=30924"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30924\/revisions"}],"predecessor-version":[{"id":30962,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30924\/revisions\/30962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13627"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}