Philippine gaming regulator to probe physical takeover of Manila casino

26 Capital Acquisition

01/06/2022 06:33

MANILA, June 1 (Reuters) - Philippine gaming authorities
said on Wednesday they will probe an incident where
representatives of a Japanese casino billionaire entered a
Manila casino to take physical control of the premises from its
operator. 
    The Philippines' Supreme Court in April ruled that Kazuo
Okada could once again lead the Okada Manila integrated
casino-resort as head of its operator Tiger Resorts, a position
he was ousted from in 2017 on suspicion of misappropriating $3
million.
    But Tiger Resorts has appealed against the Supreme Court
ruling and, had refused to vacate the premises pending a
decision on its appeal.
    Okada Manila went public in the United States in 2021
through a merger with blank-check firm 26 Capital Acquisition
Corp  ADER.O  in a deal valued at $2.5 billion.  urn:newsml:reuters.com:*:nL4N2RB2MF
    Estrella Elamparo, legal counsel for Tiger Resorts, said the
May 31 takeover was "illegal and violent", saying Okada's team
had taken "by force the physical premises".
    A video shared by Tiger Resorts with local broadcaster ANC
showed physical skirmishes and verbal confrontation as guards
and police escorted casino personnel out of a dark meeting room
at the premises.
    Manila's Southern Police District office said 37 officers
provided assistance to implement the Supreme Court order.
    Okada and his Filipino partners did not immediately respond
to requests for comment.
    The gaming regulator's board will meet on Wednesday to
discuss investigating the incident and ensure smooth operations
of the casino-resort, the agency's president Alfredo Lim told
Reuters.
    "I was shocked to read there was violence and intimidation,"
Lim said.
    The 44-hectare (108 acres) Okada Manila, located beside the
Manila Bay, features 993 suites and villas, 500 table games and
3,000 electronic gaming machines.
    

 (Reporting by Neil Jerome Morales; Editing by Kanupriya Kapoor)
 ((neiljerome.morales@thomsonreuters.com; +632 8841 8914;))