{"id":73570,"date":"2018-03-22T17:00:27","date_gmt":"2018-03-23T00:00:27","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=73570"},"modified":"2018-03-22T16:43:55","modified_gmt":"2018-03-22T23:43:55","slug":"philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/","title":{"rendered":"Philippine Border Police Placed on Alert for Pachinko Billionaire Kazuo Okada"},"content":{"rendered":"

The Philippine Department of Justice has ordered border guards at the country\u2019s airports and seaports to be on the lookout for billionaire Japanese gambling magnate Kazuo Okada.<\/p>\n

\"Kazuo
Kazuo Okada is considered a high risk to leave the Philippines, where he faces a criminal complaint of fraud for his stint as CEO of Tiger Resorts, the owner of the new Okada Manila casino resort that bears his name. (Image: Nathan Lane\/Reuters)<\/figcaption><\/figure>\n

Tiger Resort Leisure and Entertainment (TRLE), the Universal Entertainment subsidiary that runs the Okada Manila resort in the Philippines Entertainment City, has filed a criminal complaint against Okada for fraud and the misappropriation of company funds, and Philippine authorities appear to be taking it very seriously.<\/p>\n

\u201cConsidering the gravity of the possible offenses he might have committed, there is a strong probability that he may attempt to place himself beyond the reach of the legal processes of the government by leaving the country,\u201d said Justice Secretary Vitaliano Aguirre II.<\/strong><\/p><\/blockquote>\n

Fraud Allegations<\/strong><\/h2>\n

Okada, 74, who is one of the richest men in Japan, founded Universal Entertainment almost five decades ago and made a fortune in the Japanese pachinko market, while also supplying casino equipment globally.<\/p>\n

But he was ousted from the Universal board last summer<\/a>, accused of three instances of fraud related to the alleged misappropriation of some $17.26 million of company funds, and declared \u201cunfit\u201d to represent a public company.<\/p>\n

\n

The complaint in the Philippines relates specifically to his short stint as CEO of TRLE last year, during which it is alleged he \u201c[illegally disbursed] company funds worth more than $3 million supposedly for his consultancy fees and salaries during his one-month tenure as CEO.\u201d<\/strong><\/p><\/blockquote>\n<\/div>\n

The complaint emphasized there was \u201cno Board resolution, approving or authorizing the payment of (such) astronomical sums to Mr. Okada, whether as consultancy fee or salary.\u201d<\/p>\n

\u201cIt is clear that (these) amounts received by Mr. Okada were unlawfully disbursed as these were not authorized or approved by TRLEI Board of Directors,\u201d it continues.<\/p>\n

Okada Family Power Struggle <\/strong><\/h2>\n

Okada ceded control of Universal\u2019s parent, Okada Holdings, to his children, who subsequently ousted him. He claims he is the victim of a boardroom coup at both Okada Holdings and Universal Entertainment, orchestrated by his family, and has sued to regain control of both companies.<\/p>\n

Okada was one of the founders of Wynn Resorts and his apparent fall from grace oddly mirrors that of his former friend and fellow gambling industry visionary, Steve Wynn.<\/p>\n

He was kicked off the board at Wynn Resorts in 2012 and has been engaged in litigation with the US casino giant ever since. Earlier this month, Wynn Resorts, which has much publicized troubles of its own<\/a>, dropped all litigation against both Universal Entertainment and Okada.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Philippine Department of Justice has ordered border guards at the country\u2019s airports and seaports to be on the lookout for billionaire Japanese gambling magnate Kazuo Okada. Tiger Resort Leisure and Entertainment (TRLE), the Universal Entertainment subsidiary that runs the Okada Manila resort in the Philippines Entertainment City, has filed a criminal complaint against Okada […]<\/p>\n","protected":false},"author":42,"featured_media":73572,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,10,18],"tags":[],"acf":[],"yoast_head":"\nPhilippine Border Police Placed on Alert for Billionaire Kazuo Okada<\/title>\n<meta name=\"description\" content=\"Kazuo Okada is considered a high risk to flee the Philippines, where he is currently facing a criminal complaint of fraud which is alleged to have occurred during his run as CEO of Tiger Resorts.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philippine Border Police Placed on Alert for Billionaire Kazuo Okada\" \/>\n<meta property=\"og:description\" content=\"Kazuo Okada is considered a high risk to flee the Philippines, where he is currently facing a criminal complaint of fraud which is alleged to have occurred during his run as CEO of Tiger Resorts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-23T00:00:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-03-22T23:43:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/kazuo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"949\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/\",\"url\":\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/\",\"name\":\"Philippine Border Police Placed on Alert for Billionaire Kazuo Okada\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/kazuo.jpg\",\"datePublished\":\"2018-03-23T00:00:27+00:00\",\"dateModified\":\"2018-03-22T23:43:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Kazuo Okada is considered a high risk to flee the Philippines, where he is currently facing a criminal complaint of fraud which is alleged to have occurred during his run as CEO of Tiger Resorts.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/kazuo.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/kazuo.jpg\",\"width\":1280,\"height\":949,\"caption\":\"Kazuo Okada is considered a high risk to leave the Philippines, where he faces a criminal complaint of fraud for his stint as CEO of Tiger Resorts, owner of the new Okada Manila casino resort that bears his name. (Image: Nathan Lane\/Reuters)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Philippine Border Police Placed on Alert for Pachinko Billionaire Kazuo Okada\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\",\"name\":\"Casino.org Staff Writer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"caption\":\"Casino.org Staff Writer\"},\"url\":\"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Philippine Border Police Placed on Alert for Billionaire Kazuo Okada","description":"Kazuo Okada is considered a high risk to flee the Philippines, where he is currently facing a criminal complaint of fraud which is alleged to have occurred during his run as CEO of Tiger Resorts.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Philippine Border Police Placed on Alert for Billionaire Kazuo Okada","og_description":"Kazuo Okada is considered a high risk to flee the Philippines, where he is currently facing a criminal complaint of fraud which is alleged to have occurred during his run as CEO of Tiger Resorts.","og_url":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2018-03-23T00:00:27+00:00","article_modified_time":"2018-03-22T23:43:55+00:00","og_image":[{"width":1280,"height":949,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/kazuo.jpg","type":"image\/jpeg"}],"author":"Casino.org Staff Writer","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Casino.org Staff Writer","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/","url":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/","name":"Philippine Border Police Placed on Alert for Billionaire Kazuo Okada","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/kazuo.jpg","datePublished":"2018-03-23T00:00:27+00:00","dateModified":"2018-03-22T23:43:55+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77"},"description":"Kazuo Okada is considered a high risk to flee the Philippines, where he is currently facing a criminal complaint of fraud which is alleged to have occurred during his run as CEO of Tiger Resorts.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/kazuo.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/03\/kazuo.jpg","width":1280,"height":949,"caption":"Kazuo Okada is considered a high risk to leave the Philippines, where he faces a criminal complaint of fraud for his stint as CEO of Tiger Resorts, owner of the new Okada Manila casino resort that bears his name. (Image: Nathan Lane\/Reuters)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/philippine-border-police-placed-on-alert-for-pachinko-billionaire-kazuo-okada\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"Philippine Border Police Placed on Alert for Pachinko Billionaire Kazuo Okada"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77","name":"Casino.org Staff Writer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","caption":"Casino.org Staff Writer"},"url":"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/73570"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=73570"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/73570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/73572"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=73570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=73570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=73570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}