Kazuo Okada, the 80-year-old gaming magnate and former CEO and chairman of Universal Entertainment, has been arrested at Ninoy Aquino International Airport in Manila. The arrest follows his indictment earlier this month on charges of grave coercion. The charges stem from a confrontation that occurred in May, where Okada was accused of leading an “illegal and violent invasion” of the flagship Okada Manila integrated resort complex.
Arrest and Indictment:
On October 17, Kazuo Okada was arrested by the Philippines National Police at Ninoy Aquino Terminal 1 upon disembarking a flight from Haneda, Japan. The arrest came after the Department of Justice in the Philippines indicted Okada on grave coercion charges. The indictment relates to the alleged incident in May, where Okada and his group were accused of forcefully entering the Okada Manila property. The charges carry serious legal implications for Okada, with potential consequences if found guilty.
Background on Okada Manila Saga:
The Okada Manila saga has been a protracted legal battle between Kazuo Okada and Universal Entertainment. Okada, who had previously been removed from his positions as CEO and chairman due to allegations of misappropriation of funds, cited a Status Quo Ante Order issued by the Philippines Supreme Court as the basis for his actions at Okada Manila. However, Universal Entertainment regained control of the casino on September 3 when the Philippines Amusement and Gaming Corporation withdrew its support for the Okada-appointed board.
Implications and Ongoing Legal Proceedings:
Kazuo Okada’s arrest marks a significant development in the Okada Manila saga. As of now, he is out on bail and has expressed his intention to stay in the Philippines to fight the charges against him. The Metropolitan Trial Court (MTC) has scheduled his arraignment and pre-trial for various dates in October, November, and December. These court proceedings will play a crucial role in determining Okada’s legal fate and the resolution of the intra-corporate dispute surrounding Okada Manila.
Reaction and Future Outlook:
Tiger Resorts Leisure and Entertainment Inc., the parent company of Okada Manila, has expressed gratitude to the Philippine authorities for the swift arrest of Kazuo Okada. The company is determined to work with law enforcement agencies to ensure that justice is served. They remain optimistic that the Philippine courts will resolve the intra-corporate dispute and bring an end to the turmoil caused by the Okada group’s actions.
The arrest of Kazuo Okada at Ninoy Aquino International Airport marks a significant development in the Okada Manila saga. As legal proceedings continue, the outcome will have far-reaching implications for Okada’s reputation and the resolution of the intra-corporate dispute surrounding Okada Manila. The case serves as a reminder of the complexities and challenges faced in the gaming industry and highlights the importance of upholding legal and regulatory standards. The resolution of this high-profile case will undoubtedly shape the future of Okada Manila and impact the broader gaming landscape in the Philippines.