Tiger Resort Asia Ltd has reinstated its board members and fully regained control of the resort and casino.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Universal Entertainment Corp has announced in a press release that its company\u00a0Tiger Resort Asia Limited (TRA)\u00a0<\/strong>has retaken control of Okada Manila’s casino resort. The company claims to have made a generally peaceful transition despite a brief scuffle at the venue between Kazuo Okada’s self-appointed board and government authorities.<\/p>\n\n\n\n Representatives of PAGCOR were assisted by officers of the Philippine National Police (PNP) in enforcing an order to return control to TRA after Okada took control of the venue at the end of May.<\/p>\n\n\n\n Universal said in the release: “The group of businessman Antonio Cojuangco was ordered to cease by\u00a0the Philippine Amusement and Gaming Corp. (PAGCOR)<\/strong>, furtherance of the Status Quo Ante Order (SQAO) earlier issued by the Supreme Court concerning the management and operation of the contested Okada Manila.”<\/p>\n\n\n\n Kenshi Asano<\/strong>, TRAL director, said: \u201cWe believe that the order from the PAGCOR affirms our position in the intra-corporate dispute in Okada Manila.\u00a0It is consistent with both the letter and spirit of the SQAO of the Supreme Court. We are hopeful that both the High Tribunal and the Court of Appeals will agree and this issue can be put to rest very soon.”<\/p>\n\n\n\n The company added that\u00a0Kazuo Okada will be recognised on the board for now<\/strong>\u00a0in view of the SQAO which temporarily restored him to his position. It says Okada’s fate will be decided by the Supreme Court once the Court of Appeals submits its findings.<\/p>\n\n\n\n Asano stated: “While we have successfully retaken control over the management and premises of Okada Manila, we will remain focused on resolving this matter with finality. A favourable outcome will help the Philippines regain the trust of international investors.”<\/p>\n\n\n\n In June 2017, Kazuo Okada and COO Takahiro Usui were kicked off the board of Tiger Resort Leisure Entertainment. The company then accused Okada of misusing company funds. Okada was also removed\u00a0from the board of parent company Universal Japan Entertainment<\/a>, which brought three fraud charges against him.<\/p>\n\n\n\nOkada Manila GGR up 37.7% in Q2<\/h2>\n\n\n\n