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Okada group vows to pursue $2B entertainment hub in Manila

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Kazuo Okada AP FILE PHOTO

The group of Japanese tycoon Kazuo Okada has affirmed commitment to a $2-billion entertainment hub being developed in the Philippines, adding that it’s finalizing negotiations with a prospective local partner alongside efforts to deal with local land ownership restrictions.

Posted: July 16th, 2013 in Latest Business Stories | Read More »

Okada files libel case vs Wynn in Parañaque

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Kazuo Okada (left) and Steve Wynn during happier days.  Wynn Resorts called on shareholders Monday, Feb. 4, 2013, to eject the Japanese tycoon from the Wynn board of directors in a special vote scheduled on Feb. 22.  AP FILE PHOTO

The group of Japanese pachinko mogul Kazuo Okada has gone to a Philippine court and filed a criminal complaint against erstwhile Las Vegas casino partner Stephen Wynn, accusing him of libel over allegations of improper payments.

Posted: December 15th, 2012 in Latest Business Stories,Photos & Videos | Read More »

Okada firm hits Reuters on bribe stories, eyes suit

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INTERNATIONAL DESTINATION.  The Entertainment City on Manila Bay is aimed to become “a multifaceted leisure and entertainment center that is internationally benchmarked,” says Pagcor chairman and CEO Cristino Naguiat Jr. PHOTO FROM PAGCOR.PH

Universal Entertainment Corp. of Japanese businessman Kazuo Okada on Tuesday assailed the coverage of an international news agency on the alleged bribes paid by the gaming firm to a former consultant of state-owned Philippine Amusement and Gaming Corp. (Pagcor).

Posted: December 5th, 2012 in Latest Business Stories | Read More »

Biz Buzz: Win or lose

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The sharp rise of JG Summit shares in the last two days (up 9 percent), according to some stock pundits, may be related to the unfolding Okada casino payoff story.

Posted: November 21st, 2012 in Headlines | Read More »

Okada turns tables on Wynn, files countersuit

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The corporate battle between casino giant Wynn Resorts and Universal Entertainment Corp. took a new twist on Tuesday, after the latter sued the Las Vegas-based firm for trying to push the Japanese group out of the partnership through a share buyback at a steeply discounted price.

Posted: March 13th, 2012 in Latest Business Stories | Read More »

Gaming czars quarrel over Philippine casino

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LAS VEGAS-LIKE  A scale model of the rising Entertainment City Manila, simply known as Pagcor City, a Las Vegas-like gaming and entertainment complex.

An American gambling firm, using findings of a probe by a former head of the Federal Bureau of Investigation, has accused Japanese gambling tycoon Kazuo Okada of making improper cash payments and gifts totaling about $110,000 to gaming regulators, including those in the Philippines.

Posted: February 21st, 2012 in Editor's Pick,Featured Gallery,Headlines,Photos & Videos | Read More »

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