Japan’s Universal Entertainment Corp, the founding parent of the Okada Manila casino resort in the Philippines, says the Philippine Supreme Court has “lifted” a “status quo ante” order that had restored Kazuo Okada, the ousted founder of the company, to the board of the property’s operator.
The Pachinko King has no space to make a false step
Mr Okada (pictured) founded Universal Entertainment, and also Tiger Resort, Leisure and Entertainment Inc (TRLEI), the operator of Okada Manila, but was ousted from both entities in June 2017, accused of fraud. He has denied wrongdoing.
In April last year, Mr Okada’s side had been granted a “status quo ante” order, restoring the composition of the TRLEI board to how it was before he was removed. His side cited that order as a justification for the six-month takeover of Okada Manila last year.
Supporters of Mr Okada physically occupied the premises of the casino resort for a time starting on May 31 last year. Universal Entertainment said in a September 4, 2022, statement that it had taken back control of the property.
