Tag Archives: Okada Manila
Philippines – Supreme Court lifts court order that had allowed Kazuo Okada to take control of Okada Manila
Universal Entertainment has confirmed that a 2022 court order that prompted an unruly takeover of Philippines casino Okada Manila by a group representing its founder Kazuo Okada has been kicked out by the Supreme Court. The Court denied a petition by Mr. Okada filed against Okada Manila operator Tiger Resort, Leisure and Entertainment Inc (TRLEI). Universal…
Philippines – Arrest warrant issued for Kazuo Okada – again
A court in Philippines has issued arrest warrants for Kazuo Okada and a number of industry associates who stand accused of siphoning money from Okada Manila during a takeover of the casino resort in 2022. The Paranaque Regional Trial Court Branch ordered the warrants for qualified theft against Kazuo Okada, Antonio O. Cojuangco, Dindo Espeleta,…
Philippines – Mass continues to drive rebound at Okada Manila
The rebound in GGR has continued apace at Okada Manila with gaming revenues of US$193m for the three months to December 31 2022, marking an increase of 54.9 per cent on last year’s equivalent quarter and a 10.3 per cent increase from the previous quarter in 2022. In a filing by its owner Tiger Resort,…
Philippines – With revenues up 37.7 per cent, Okada Manila looking to end 2022 on a high
Revenues at Okada Manila boomed by 37.7 per cent in the three months to 30 June 2022, hitting Php8.3bn (US$142.6m). Okada Manila aims to close 2022 on a high note with its business verticals gaining more traction thanks to relaxed mobility restrictions and the growing demand for gaming and recreation. For the first nine months…
Philippines – PAGCOR gives ‘cease and desist’ order to Kazuo Okada
Philippines gaming regulator PAGCOR (Philippine Amusement and Gaming Corp) has given a ‘cease and desist’ order to the Kazuo Okada-led board of TRLEI and told them to leave the Okada Manila Casino Resort to give power back to the previous board. The group of businessman Antonio “Tonyboy” Cojuangco was ordered to cease and desist by…
Philippines – Kazuo Okada claims takeover of Okada Manila was peaceful
Claims that the premises of Okada Manila in the Philippines had been stormed by representatives of former owner Kazuo Okada have been dismissed by Okada Manila founder Kazuo Okada who is claiming that no ‘slanderous or violent acts’ took place. The situation means that two separate entities are claiming they are the legitimate board. Tiger…
Philippines – Representatives of Kazuo Okada storm Okada Manila to try and take control
A huge ownership battle has broken out in the Philippines with the premises of Okada Manila being taken over by representatives of former owner Kazuo Okada who have apparently stormed the building. The bizarre situation means that two separate entities are claiming they are the legitimate board. Tiger Resort Leisure and Entertainment (TRLEI) said: “A…
Philippines – Okada Manila to reach pre-pandemic GGR by next year
Fitch Ratings has said that GGR at Okada Manila in the Philippines will bounce back to within 20 per cent of pre-pandemic revenues this year, reaching the same levels of early 2019 by 2023. The ratings agency said GGR would increase by 30 per cent in 2022 and a further 14 per cent in 2023…
Philippines – Upturn at Okada Manila unable to save Universal’s year
Despite Philippine resort casino Okada Manila reporting a 27.2 per cent increase in sales to US$305m, giving a profit of US$46m in 2021, its owner Universal Entertainment Corp reported an overall loss of US$166m. GGR at the casino came in at US$164m with more than 1.8 million people visiting the property during the year. Net…
