Kazuo Okada Will Exhaust All Legal Options To Regain Control of Okada Manila
Summary
- Kazuo Okada will appeal DOJ recommendation to file grave coercion charges against them
- Okada and his three associates were indicted over their forcible takeover of Okada Manila in May
- Okada’s group remains confident they will regain control of the Okada Manila casino
Japanese billionaire Kazuo Okada isn’t giving up just yet in his fight to regain control of the company he founded. After being indicted along with three others for grave coercion in the Philippines over his camp’s illegal takeover of Okada Manila in May 2022, the Japanese mogul will do everything in his power to take the casino back.
Okada Group to Question “Erroneous” DOJ Indictment
Atty. Rico Paolo Quicho, spokesperson for the Okada camp said Okada and his allies remain confident that they would regain control of Okada Manila, adding that they are currently looking into legal remedies to challenge and reverse the “erroneous” decision by the Department of Justice (DOJ).
Quicho was referring to the recommendation by the DOJ to formally charge Okada and his local allies Antonio “Tonyboy” Cojuangco, Dindo Espeleta and Florentino “Binky” Herrera with grave coercion arising from their forcible takeover of Okada Manila on May 31.
Okada’s group governed the casino for three months before being ordered by the country’s gaming regulator, the Philippine Amusement and Gaming Corporation (PAGCOR), to vacate the premises in early September, reinstating the ousted board of Tiger Resort Leisure and Entertainment Inc. (TRLEI).
TRLEI operates Okada Manila. It is owned by Hong-Kong based Tiger Resorts Asia, and their ultimate parent is Universal Entertainment, which was founded by Okada and from which he was removed as chairman in 2017 after being accused of misappropriating millions of dollars in funds.
Okada’s group has always maintained that the Okada Manila takeover was based on a status quo ante order (SQAO) granted by the Philippine Supreme Court (SC) in April 2022 which directed TRLEI to restore its board composition to its 2017 structure when Okada still served as chairman. In August, SC upheld the validity of the SQAO.
Okada Eager TO Regain Control of Okada Manila Casino
Quicho said any decision by the SC on the matter must be respected. He added that Okada’s major role in Universal Entertainment and Okada Manila, being the one who started it all, must be given weight. The 80-year-old is “hell-bent” on making sure that his vision and investment in the Philippines will continue to grow, according to Quicho.
Other criminal cases filed against Okada relating to the Okada Manila takeover, such as falsification, direct assault, serious illegal detention, and kidnapping, were dismissed by the local courts and has been taken to Hong Cong instead.
Carolyn DuttonAuthor
Carolyn is our legislation expert, with a background in law she is able to cover the current state of gambling around the world
