Okada Casino Manila is exposed to a power struggle between Japan’s Mogul Kazuo Okada and the Philippine authorities. [Image: Shutterstock.com]
power struggle
The Okada resort of Manila in the Philippines has been subjected to controversy once again as rivals try to keep it away from Japanese magnate Kazuo Okada.
Videos of altercations between 50 fictitious employees have been leaked amid an attempted coup against the property. Employees of the Philippine Amusement and Games Corporation (PAGCOR), despite their positions, were among the large crowd.
The Philippine National Police also joined the members.
The group leader was a member of the board of directors of Tiger Resort Leisure and Entertainment (TRLEI), which Okada had previously ousted, and which moved to parent company Tiger Resorts Asia (TRAL). The Philippine National Police also joined the members.
Okada Manila: A History of Controversy
The recent events follow the cease and desist order issued by PAGCOR to the administration of Okada Manila, made up of Okada and others. The order was granted after management decided to relieve TRLEI board members from their roles as casino operators.
The Philippine regulator previously ordered Okada’s TRLEI board to stop allocating funds to its casino gaming cage, which was ignored.
Okada has been protected under a status quo order (SQAO) granted by the Supreme Court of the Philippines since he regained control of the casino earlier this year. SQAQ says he should be reinstated as CEO and Chairman of TRLEI.
He was fired in 2017 after allegedly embezzling $20 million in funds
Okada previously ran Manila Okada until he was fired in 2017 after allegations that he embezzled $20 million in funds. He resumed control on May 31 – with help from local police and private security – but has not had a smooth path since.
The Japanese billionaire was recently sued for using “brute force and intimidation” to take back the casino. The report specifically named Okada and two of his aides during the dismissal of the former employees.
authorities weigh
PAGCOR is not satisfied that the security of Okada as the controller of the property will survive. They demanded a “legitimate authority” that would overrule SQAQ’s sentiments, or else it would write it off.
The Philippine justice secretary doubled down on his position in the case on Thursday, further increasing her position in the case.
Okada’s security team barricaded themselves in the basement of the building’s parking garage
according to gambling insider, Okada’s security team barricaded themselves in the basement of the building’s parking garage leading to the casino entrance.
A spokesman for Okada earlier said the allegations against him and his colleagues were “pure lies.”[s]With ‘no legal basis whatsoever’.
