Universal Entertainment, which is currently involved in an ongoing legal dispute with the company’s former chairman Kazuo Okada, divulged this week that it would sue the Japanese billionaire businessman in Hong Kong along with his “collaborators” over their primary involvement in the alleged violent takeover of Okada Manila on May 31.
Okada & Co Breached Hong Kong Law
Okada Manila is currently operated by Tiger Resorts, Leisure and Entertainment Inc. (TRLEI). TRLEI’s parent company, Tiger Resort Asia Ltd, which is a wholly-owned subsidiary of Universal Entertainment, is registered in Hong Kong. The company owns 99.9% of TRLEI shares.
Universal Entertainment claimed that Okada and his associates had committed serious breaches of Hong Kong law arising from their illegal occupation of Okada Manila.
Legal Drama To Continue
Universal Entertainment is currently seeking to overturn the Philippine Supreme Court decision in April that paved the way for Okada to return to his previous role as chairman of the company.
Okada’s group has been manning the casino resort since May 31 and claimed they’re leading the business towards recovery after June’s figures showed the casino’s gross gaming revenue was up 4% from the same period in 2019, before the onset of the pandemic.
Universal Entertainment disputed that claim and accused Okada’s group of being deceitful and engaging in credit-grabbing.
