Japanese entertainment giant Universal Entertainment said in a statement on Tuesday that it will pursue criminal charges in Hong Kong against Kazuo Okada and his "co-operators" in connection with Kazuo Okada's May 31 acquisition of the Philippine capital Okada Manila casino resort.
Universal Entertainment said it was looking to take action in Hong Kong because Tiger Resorts Asia Ltd, a Hong Kong-registered company, held "99.9%" of the voting rights of Tiger Resorts Leisure Entertainment Inc (TRLEI), a Philippine company that operates Okada Manila.
Universal Entertainment and Mr Okada, a Japanese businessman who founded the company but was ousted in 2017, are now challenging TRLEI's control through the Philippine Supreme Court. In 2017, Mr Okada was also ousted from TRLEI's board, but an April ruling by the Philippine Supreme Court said the composition of TRLEI's board should be brought back to where it was before he was fired.
In a recent statement on the results of its physical acquisition of Okada Manila, Universal Entertainment claimed that "Mr. Okada and his collaborators" were "serious violations of Hong Kong law, including forgery, fraud and embezzlement of official documents."
Universal Entertainment is "..."The fact that Tiger Resorts Asia is a wholly owned subsidiary of the company [Universal Entertainment] and that directors of Tiger Resorts Asia are appointed by the company is recognized by the authorities under Hong Kong law and registered and disclosed in Hong Kong."
In an announcement on Tuesday, Universal Entertainment said it would delay disclosure of Okada Manila's financial results for the second quarter, originally scheduled for Aug. 9.
This was because Mr. Okada and his colleagues "refused to provide any information" to Universal Entertainment. Mr. Okada and his group continued to occupy Okada Manila, the Japanese company noted.
"In connection with this incident, we have set our basic policy to achieve the reclamation and normalization of operations at Okada Manila [resort] only through legal means," Universal Entertainment said.
Opponents on Monday raised claims and counter-arguments that could give Okada Manila credit for June casino gross gaming revenue.
BY: 홀짝게임