Okada Manila Anarchy Escalates, as Kazuo Okada Son Attacks Father

Okada Manila Anarchy Escalates, as Kazuo Okada Son Attacks Father.

Costfoto / NurPhoto / Getty Images

Key Takeaways

The governance of Okada Manila in the Philippines Entertainment City remains in chaos, as competing entities each lay claim as the rightful owner-operator.

Okada Manila Kazuo Tiger Resort Universal PhilippinesKazuo Okada currently has control of Okada Manila and Tiger Resort, Leisure and Entertainment Inc. His own son and daughter say he shouldn t. (Image: AFP)

The tensions further mounted this week after Tomohiro Okada, one of Japanese billionaire Kazuo Okada s adult children, penned a scathing statement attacking his father.

Okada the elder was forcibly removed from Universal Entertainment Corporation and Tiger Resort, Leisure and Entertainment Inc. (TRLEI) in 2017. The dismissal was based on allegations that he was swindling money from the companies. Okada, who has a net worth of around $1.2 billion, according to Forbes, has continually denied such contentions.

Since 2017, Okada has been seeking to regain control of the two gaming firms he founded and formerly controlled. The Philippines Supreme Court in April granted him a partial victory in ordering to its 2017 composition.

TRLEI is a Universal subsidiary that manages the integrated casino resort s operations.

Okada used the high court s ruling to regain control of TRLEI and Okada Manila. Just a month after the Supreme Court decision, a coup led by Okada occurred at TRLEI s corporate offices at Okada Manila.

Son Scolds Father

Since the May takeover, Okada has maintained control over TRLEI and Okada Manila. His actions, however, have been deemed illegal by the former TRLEI board.

Tomohiro Okada scolded his father in a statement released today by Universal Entertainment.

I have long disagreed with the management and ethics of my father, as he always acts as if he is above the law, the younger Okada wrote. He has lost all sense of legality and good governance. He uses his companies as his personal piggy bank which led to the numerous cases he now faces. I refuse to be associated with my father and his sham [TRLEI] board.

Tomohiro and his sister, Takako Okada, are Universal s largest shareholders. She has also criticized her father s assault on the TRLEI corporation.

The Okada children say they are working with their legal terms to readdress the Supreme Court s order. They are working in hopes of putting to rest what they believe is truly a shameful corporate heist.

Theft Alleged

Numerous banks in the Philippines that serve Okada Manila have frozen the accounts held by TRLEI amid its corporate dispute. The TRLEI governance that was ousted through the Okada-led ambush raised allegations that the current company is stealing money directly from the casino floor to pay its executive team.

After their violent and illegal takeover, Okada Manila has . We expect Okada Manila s funds to dwindle in the coming weeks, putting not only guests at the losing end, but at the same time, putting at risk it s over 5,000 employees, many of whom rely on their salaries to meet their daily needs, said attorney Estrella Elamparo, who is representing the ousted TRLEI group.

Many employees have refused to work during the corporate tussle. Okada Manila last week posted on LinkedIn that it s seeking workers for various positions throughout the resort.

Article Sources
Caesars to Resume Seven-Day Hotel Service at Planet Hollywood, The LINQ This Month editorial policy.
  1. Nevada Voters Favor Donald Trump Over Kamala Harris in RealClearPolitics Tracker

Compare Accounts
×
L.A. Lakers’ Russell Westbrook Exits Final Preseason Game with Hamstring Injury
Provider
Name
Description
Can Anyone Beat the Indians and Dodgers Before the World Series? Las Vegas Doesn’t Think So  Hard Rock Terre Haute Casino Proposal Supported By Indiana Community’s Leaders  Revel Atlantic City Reportedly Sold, Owner Glenn Straub Again Plays Dumb  Maltese Police Chief Went to EPL Soccer Game with Casino Owner Charged with Murder of Journalist Galizia  Comic Jo Koy Stands Up to Buy $10M Las Vegas Mansion  Caesars New Orleans Could Feel Taylor Swift Effect  Las Vegas Raiders Stadium Still Among Potential 2026 World Cup Host Venues  UK Gambling Shares Tumble on Fears of Government Tax Grab  2023 Home Run Derby Odds: Pete Alonso Seeks a Third Crown  Macau Casinos Disappoint in June, Gaming Revenue Short of Analyst Expectations