A long battle with the Philippines to decide who will have final control over the 993-room Okada Manila facility is reportedly heading to court after Universal Entertainment Corp. announced it was seeking to overturn a previous Status Quante order.
According to a report by Inside Asian Gaming, the Tokyo-based company said in May that the Philippine Supreme Court had issued a "status cue ante order" by the second division of the Philippines, and that it had imposed an obligation on the Tiger Resort Leisure Entertainment Inc subsidiary, which runs the five-star Okada Manila venue, to reinstate the composition of its board in 2017. The source explained that the move came at the behest of billionaire businessman Kazuo Okada (pictured).
Forced consequences:
Universal Entertainment is also a major manufacturer of Pachinko, Slot and Arcade games, which reportedly said after producing additional information, a motion related to the Status Quante order was remanded to the High Court. Initially, the court order allegedly prompted a group of 50 representing Okada to take over Okada Manila amid the belief that the 79-year-old would regain his command on the board of directors of Tiger Resort Leisure Entertainment Inc.
Reports say you have read the official documents of Universal Entertainment Company...
The Philippine Supreme Court has decided to return the case to the High Court to review the evidence related to the holding of voting rights of Tiger Resort Leisure and Entertainment Inc. and to confirm the facts related to the holding of voting rights of Tiger Resort Leisure and Entertainment Inc. The High Court will carry out the task of determining who owns the voting rights of Tiger Resort Leisure and Entertainment Inc. and will return the results of fact-finding to the Philippine Supreme Court to make a ruling based on evidence and documents
Fall Home:
Universal Entertainment Incorporated has reportedly leaked that it expects to complete this fact-finding mission within 30 days before the high court presents its final evidence to the Philippine Supreme Court. The Tokyo-listed company, previously known as Arouset Corporation, has since reportedly mentioned that it will seek a final decision on ongoing intra-company disputes before the end of October, which would prevent Okada and his representatives from making any comments on Tiger Resort Leisure and Entertainment Incorporated.
A near-catastrophic claim:
Inside Asian Gaming reports that the move came as Universal Entertainment Corporation's board of directors announced that they had sent a demand letter to a trio of Okada Manila employees, who are believed to have siphoned off about $2.2 million from the venue's casino cage. The transfer is believed to have come amid confusion related to the raid by Okada's representatives and was allegedly involved in Gilbert Gianzon, vice president of accounting and finance assistance at Entertainment City Real Estate, and Renato Marcelo, director of finance, and Rowena Chan, an accounting manager.
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