Okada Manila Resort Victim of Failed Coup by Rivals of Japanese Billionaire
The Okada Manila resort in the Philippines has fallen under controversy again as rivals are attempting to pry it away from Japanese mogul Kazuo Okada.
Videos of altercations between 50 fake employees have been leaked amid an attempted coup on the property. Philippine Amusement and Gaming Corporation (PAGCOR) employees, despite their positions, were among the large crowd.
Members were also joined by Philippine National Police.
The group’s leader was a member of the Tiger Resort Leisure and Entertainment (TRLEI) Board, previously deposed by Okada, who deferred to TRLEI’s parent company Tiger Resorts Asia (TRAL). Members were also joined by Philippine National Police.
Okada Manila: a history of controversy
The recent events follow PAGCOR’s cease-and-desist order to Okada Manila’s management, consisting of Okada and others. The order was granted after management decided to release TRLEI Board members from their roles as casino operators.
The Philippine regulator previously commanded Okada’s TRLEI board to stop the allocation of funds to the casino’s gaming cage, an order that was ignored.
Okada has been protected by a Status Quo Ante Order (SQAO) granted by the Supreme Court of the Philippines ever since he reclaimed control of the casino earlier this year. The SQAQ says that he should be reinstated as CEO and Chairman of TRLEI.
thrown out in 2017 following allegations that he misappropriated $20m in funds
Okada previously ran the Manila Okada until he was thrown out in 2017 following allegations that he misappropriated $20m in funds. He resumed control on May 31 – with assistance from local police and private security – but has not had a smooth road since.
The Japanese billionaire was recently sued for using “brute force and intimidation” to reclaim the casino. The report specifically named Okada and two of his associates during the removal of the previous staff.
Authorities weigh in
PAGCOR is not convinced that Okada’s security as the controller of the property will remain. They have demanded a “valid authority” rebuff the sentiments of the SQAQ, otherwise it will cross them out.
A Philippines’ Department of Justice secretary doubled down on PAGCOR’s verdict Thursday, increasing its position in the case.
Okada’s security team has barricaded itself in the basement of the building’s parking garage
According to Gambling Insider, Okada’s security team has barricaded itself in the basement of the building’s parking garage leading to the casino entrance.
A spokesperson for Okada previously said that the allegations against him and his colleagues were “pure fabrication[s]” with “no legal basis whatsoever.”
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