The operator of Okada Manila on Saturday questioned the decision of the Philippine Amusement and Gaming to “take the side” of billionaire Kazuo Okada in a board dispute.
In a statement, Tiger Resorts Leisure and Entertainment Inc (TRLEI) and its parent companies Universal Entertainment Corporation (UEC) and Tiger Resort Asia Limited (TRAL) “vehemently denounce” the state regulator’s decision to uphold a status quo ante order issued by the Supreme Court on the dispute between Okada and TRLEI.
“Considering that the matter at hand involves an intra-corporate dispute pending before the Supreme Court, PAGCOR, as a government regulatory body, is duty-bound to observe due process and comply with the issuances and directives of the Supreme Court,” the state regulator said in a statement.
TRLEI, however, disputed PAGCOR’s claim that the takeover by the former management led by Antonio Cojuangco and Dindo Espeleta was peaceful.
PAGCOR earlier said TRLEI director Hajima Tokuda was escorted outside the premises “without being bodily hurt,” adding that the incident was captured by CCTV cameras.
“PAGCOR’s President and Chief Operating Officer Mr. Alfredo Lim was quoted as saying that the takeover was peaceful and orderly—this despite the viral videos showing the complete opposite. We urge PAGCOR to adopt a neutral stance in the intra-corporate dispute and be more mindful of its mandate as a GOCC,” TRLEI said in a statement on Sunday.
TRLEI’s parent company earlier insisted it said it does not believe the Supreme Court has authority over Okada Manila because Tiger Resort Asia Ltd (TRA), a company registered in Hong Kong, owns 99.9% of TRLEI’s voting rights.