{"id":32441,"date":"2022-08-08T06:08:10","date_gmt":"2022-08-08T09:08:10","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=32441"},"modified":"2026-04-23T06:08:27","modified_gmt":"2026-04-23T09:08:27","slug":"tiger-resort-asia-sends-demand-letter-to-kazuo-okadas-board","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/tiger-resort-asia-sends-demand-letter-to-kazuo-okadas-board","title":{"rendered":"Tiger Resort Asia sends demand letter to Kazuo Okada’s board"},"content":{"rendered":"\n

The letter demands an inspection of Okada’s board’s internal documents.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Tiger Resorts Asia (TRAL) has sent a letter to the Kazuo Okada-backed board of Okada Manila demanding an inspection of all payments made since the group regained control of the venue<\/a>. The inspection would focus on transfers exceeding PHP1m (US$18,000), payments made to all TRLEI contractors and transfers to Kazuo Okada, Antonio Cojuangco, or Dindo Espeleta-related companies.<\/p>\n\n\n\n

It would also include monthly management reports for June and July, lists of all rehired employees, all new supply and construction contracts, and projected payments of over PHP1m for August, as well as new bank accounts, changes to IT systems and records of deleted CCTV footage.<\/p>\n\n\n\n

Divina Law<\/strong>, the lawyer representing TRAL, reminded the Okada group that the denial of this shareholder right “constitutes a crime under the amended company law”.<\/p>\n\n\n\n

TRAL, which owns 99 per cent of Tiger Resorts, Leisure and Entertainment (TRLEI), is contesting Okada’s control of the Manla casino venue, which he took back at the end of May following a court decision. In June,\u00a0TRAL warned<\/a>\u00a0thatany transaction supposedly made on behalf of TRLEI, our subsidiary, by any of these individuals or their agents and representatives, would not be recognised.<\/p>\n\n\n\n

Universal Entertainment<\/strong>, TRLEI\u2019s parent incorporated in Hong Kong, has recently reported it will also file\u00a0criminal charges against Kazuo Okada<\/a>\u00a0and his team in Hong Kong.\u00a0<\/p>\n\n\n\n

The company said: \u201cTRA is a wholly-owned subsidiary of the company and [\u2026] the directors of TRA are appointed by the company are recognized by the authorities under Hong Kong law and registered and publicly disclosed in Hong Kong.\u201d<\/p>\n\n\n\n

Universal claims that Okada\u2019s behaviour amounts to a violation of Hong Kong law and said it intends to file charges relating to the falsification of official documents, fraud and embezzlement. In the meantime,\u00a0Okada Manila<\/a>\u00a0has reported gross gaming revenue of PHP8.30bn (US$149.3m) for Q2, up 37.7 per cent quarter-on-quarter from PHP6.02bn.<\/p>\n\n\n\n

The company reported that VIP GGR was up 27.8 per cent quarter-on-quarter <\/strong>to PHP3.25bn while mass-market table GGR was up 42.8 per cent to PHP2.19bn. Gaming machine GGR grew 46.7 per cent to PHP2.86bn and non-gaming revenue, including from hotel and food and beverages, was up 77.8 per cent to PHP665m.<\/p>\n","protected":false},"excerpt":{"rendered":"

The letter demands an inspection of Okada’s board’s internal documents.<\/p>\n","protected":false},"author":176,"featured_media":21187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Tiger Resorts Asia (TRAL) has demanded an inspection of financial documents and operational records from the Kazuo Okada-backed board of Okada Manila, citing shareholder rights and potential corporate law violations. This action, supported by parent company Universal Entertainment's intent to file criminal charges in Hong Kong, underscores a significant corporate control dispute. Concurrently, Okada Manila reported robust Q2 GGR of PHP8.30bn, demonstrating strong operational performance amidst the governance challenges.","focusai_entities":"Tiger Resorts Asia (TRAL), Kazuo Okada, Okada Manila, Tiger Resorts, Leisure and Entertainment (TRLEI), Antonio Cojuangco, Dindo Espeleta, Divina Law, Universal Entertainment","focusai_location":"Philippines, Hong Kong","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.95), operator_casino (0.85), tech_data (0.7), payments_fraud_aml (0.75), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Legal Resolution Timeline?","query":"What is the projected timeline for the resolution of the legal challenges in both the Philippines and Hong Kong, and how might interim rulings impact Okada Manila's operational licensing and corporate structure?"},{"label":"Capital Market Impact?","query":"How will the ongoing corporate governance dispute and allegations of financial impropriety affect Okada Manila's access to capital markets, its credit ratings, and its long-term strategic development plans for expansion or divestment?"}],"footnotes":""},"categories":[439,158,16333],"tags":[8986,24149],"class_list":["post-32441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-news","category-slider-home","category-south-east-asia-news","tag-okada-manila","tag-tiger-resorts-and-leisure-and-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32441","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=32441"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32441\/revisions"}],"predecessor-version":[{"id":32449,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32441\/revisions\/32449"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21187"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}