• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 27 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Kazuo Okada-led board says discussions with banks ongoing over frozen accounts

Ben Blaschke by Ben Blaschke
Tue 21 Jun 2022 at 04:59
Improved Okada Manila performance not enough to push Japan’s Universal Entertainment Corp back to profit in 2021
43
SHARES
1.1k
VIEWS
Print Friendly, PDF & Email

The Kazuo Okada-led board of Okada Manila operator Tiger Resort, Leisure and Entertainment Inc (TRLEI) says it is currently in discussions with the three banks that reportedly froze the accounts of the Philippines integrated resort last week.

In a statement issued via the TRLEI website, the Kazuo Okada group insisted that “all financial obligations are met and … all ongoing business transactions are right on track.

“The purported Bank Freeze … has reported has no effect at all on Okada Manila’s commitment to its partners and valued patrons. Management is closely working with the Banks in order to provide continued support to TRLEI’s business needs.”

The group’s comments follow an announcement from the board backed by Tiger Resort Asia Ltd (TRAL) – which holds 99.9% of TRLEI shares – over the weekend revealing that BDO Unibank (BDO), Asia United Bank (AUB) and Union Bank of the Philippines had opted to freeze the accounts of Okada Manila due to the ongoing intra-corporate dispute between the two factions. Mr Okada was removed from the TRAL-backed board of TRLEI and of parent company Universal Entertainment Corp in 2017 due to allegations of fraud.

The TRAL-backed board also claimed that the Kazuo-Okada group may choose to use “cage money” or revenues generated from the operations of the casino and hotel to fund the operations and the salaries of Okada Manila’s employees, but said these funds would “run dry soon.”

In response, the Kazuo Okada group insisted on Monday that there would be no disruption to business operations at Okada Manila which “will continue to prioritize the welfare of its employees and customers. There will be no disruption in the operations of Okada Manila and that definitely includes the salaries and compensation of its employees.”

RelatedPosts

Winds of change

Belle Corp’s share in City of Dreams Manila gaming revenue down 18% in 1H25

Sat 26 Jul 2025 at 08:39
Uncertain future for POGO industry suppliers as PAGCOR says operations in “status quo” for now

Maybank: Threat of total ban on Philippines online gaming is real, more clarity from President Marcos likely Monday

Fri 25 Jul 2025 at 12:34
Philippines IRs see combined GGR fall 10.6% to US$778 million in 2Q25

Philippines IRs see combined GGR fall 10.6% to US$778 million in 2Q25

Thu 24 Jul 2025 at 17:43
Studies show dramatic rise in online gambling during COVID-19 lockdowns

Survey finds most Filipinos who gamble online prefer regulated sites due to concerns over safety, legitimacy

Wed 23 Jul 2025 at 13:45
Load More
Tags: Kazuo OkadaManilaOkada ManilaPhilippinesTiger Resort
Share17Share3
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Winds of change

Belle Corp’s share in City of Dreams Manila gaming revenue down 18% in 1H25

by Newsdesk
Sat 26 Jul 2025 at 08:39

Philippines real estate firm Belle Corp saw its share in gaming revenue from City of Dreams Manila fall by 18% year-on-year to Php772.3 million (US$13.5 million) in the first half of 2025, reflecting the challenges currently being faced by Manila’s...

DigiPlus to enter South Africa’s online sports betting market

DigiPlus to enter South Africa’s online sports betting market

by Newsdesk
Sat 26 Jul 2025 at 08:37

Philippines gaming technology firm DigiPlus Interactive Corp has announced plans to further expand internationally by entering the South African online sports betting market. The company said in a Friday statement that it would file license applications with the Western Cape...

Uncertain future for POGO industry suppliers as PAGCOR says operations in “status quo” for now

Maybank: Threat of total ban on Philippines online gaming is real, more clarity from President Marcos likely Monday

by Ben Blaschke
Fri 25 Jul 2025 at 12:34

Malaysian investment bank Maybank has warned that the threat of a total ban on the Philippines’ domestic online gaming, or eGames, sector is real given that political noise is similar to before recent bans on eSabong and POGOs. While Maybank...

MGTO says no apparent impact on visitor numbers from limitation on provision of free snacks in Macau casinos

Macau visitor arrivals rise 13.3% year-on-year to 2,891,003 in June

by Pierce Chan
Fri 25 Jul 2025 at 05:45

According to data from Macau’s Statistics and Census Service (DSEC), a total of 2,891,003 visitors arrived in Macau in June, representing a year-on-year increase of 13.3%. Mainland China remained the primary source of visitors to Macau in June, with 1,995,627...

Your browser does not support the video tag.


IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English