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Summary
- Pagcor has been criticized for siding with Kazuo Okada’s group in the Okada Manila takeover
- Universal Entertainment has accused the regulator of disregarding its legal rights
- Pagcor maintains that it has remained neutral in the conflict
Universal Entertainment Corp has accused the gaming regulator in the Philippines, the Philippine Amusement Gaming Corp (Pagcor) of being biased as the intra-corporate dispute continues between Kazuo Okada‘s group and the company’s sitting board which was recently deposed in an alleged “violent takeover” of Okada Manila by individuals representing the Japanese tycoon.
Okada, who founded Universal Entertainment Corp, was removed as chairman of the company in 2017 over allegations of financial mismanagement. Universal Entertainment owns and operates Tiger Resort Asia Ltd, the parent company of Tiger Resort Leisure and Entertainment Inc (TRLEI), the promoter of the Philippines-based Okada Manila casino resort.
Pagcor Accused of Graft and Corruption
Universal Entertainment condemned Pagcor for acting in favor of Okada’s group in the ongoing dispute over control of the company and its subsidiaries. The statement followed an earlier confirmation from the Philippine gaming regulator that a monitoring group from the agency was present when businessman Antonio “Tonyboy” Cojuangco and his companions entered the casino resort on May 31.
Pagcor said its monitoring team was there to protect the interests of the agency and the government and avoid disruption to the casino’s operations during that day. It also wanted to ensure the welfare of all parties involved.
In an earlier statement, Alfredo Lim, Pagcor’s president and chief operating officer, had described the takeover by Okada’s representatives as peaceful and orderly, but videos from the incident, which have since gone viral, show Okada’s group using violence to remove the sitting officials from their offices.
Universal Entertainment said Pagcor’s bias in the ongoing dispute is inappropriate as it has no authority to make any judgments or decisions on the conflict. The company has accused Pagcor of blatantly disregarding its legal rights when the regulator publicly acknowledged the Okada-led board in the absence of any legal and factual basis. The agency’s action accounts for graft and corruption under the country’s laws, Universal Entertainment added.
Pagcor Insists It’s Neutral
The takeover by Okada’s side relates to a “status quo ante order” issued by the Supreme Court in April of this year, which reinstated Okada as head of Universal Entertainment. In response, the other group claiming control of the company filed an Urgent Motion for Reconsideration in an attempt to block Okada from regaining his position.
Officers of TRLEI have filed criminal charges against Okada, Cojuangco, and many other individuals involved in the alleged May 31 violent takeover.
Pagcor insists it’s adopting a neutral stance on the dispute and is only following the legal process.
