Kia Cuts EV Prices in Europe as Chinese Carmakers Intensify Competition 
Taiwan Court Fines Tokyo Electron Unit $4.78M in Major TSMC Trade Secrets Case 
Daiichi Sankyo Stock Drops After Earnings Delay and Oncology Review 
DeepSeek Launches V4 AI Models with Enhanced Reasoning and 1M Token Context Window 
Iran Proposes Strait of Hormuz Reopening Deal Amid Stalled U.S. Talks 
Oil Price Forecasts Rise for 2026 as Middle East Supply Risks Persist 
Asian Currencies Rise Ahead of BOJ and Fed Meetings as Dollar Softens 
Brazil Current Account Deficit Widens in March as FDI Misses Expectations 
Oil Prices Steady as U.S.-Iran Talks Ease Tensions Despite Strait of Hormuz Disruptions 
Gold Prices Rise Slightly but Head for Weekly Loss Amid Oil Surge and Inflation Fears 
Strait of Hormuz Shipping Crisis Deepens as Traffic Plunges Amid Iran-U.S. Tensions 
Bank of England Set to Hold Interest Rates as Inflation Risks and Iran War Impact Loom 
Nomura Shares Drop After Profit Miss Despite Strong Revenue Growth 
Microsoft Commits $18 Billion to Expand AI and Cloud Infrastructure in Australia 
SMC Corp Stock Surges as Palliser Capital Pushes for Major Share Buyback 
BOJ Rate Decision in Focus as Yen, Inflation, and Nikkei Hang in Balance 
Brazil Pension Fund Crackdown After Banco Master Collapse Raises Investment Concerns 
Universal Entertainment Corp., a Japanese manufacturer of pachinko, slot machines, arcade games other and gaming products, has finally taken over the operations and management of Okada Manila Casino after a long period of management dispute against the Tiger Resort Leisure and Entertainment Inc. (TRLEI) board members.
As per Reuters, Universal Entertainment Corp. confirmed on Sunday, Sept. 4, that its official representatives in the Philippines had regained the power to operate Okada Manila’s casino.
The company further affirmed the news by showing a copy of an order from the Philippine’s gaming regulator, Philippine Amusement and Gaming Corp. (PAGCOR), stating it has issued a cease and desist order for TRLEI’s board members who are currently managing the casino in the hotel.
The Japanese company also revealed that the takeover had been generally peaceful despite a brief minor scuffle after the board that was personally appointed by Japanese magnate Kazuo Okada, attempted to stop the government authorities from entering the premises of Okada Manila. The change of management was handled peacefully after the authorities served the order to the board and directed them to leave.
The transition happened after PAGCOR withdrew its earlier decision to recognize the board members of Tiger Resort Leisure and Entertainment as the casino’s rightful operator. TRLEI is the developer and operator of Okada Manila, and it installed a group of executives to manage the hotel’s casino, but this move was later declared illegal.
Aside from the transfer of management, the local regulator also reinstated the legitimate board members and ordered the group of Antonio Cojuangco to vacate the offices based on a status quo ante order (SQAO) that was handed down by the Supreme Court in connection with the management and operation of Okada Manila.
Dindo Espeleta III, Maximo Modesto Joel C. Flores, Hiroshi Kawamura, and Tetsuya Yokota’s authority over the casino has been revoked as well, and they are barred from doing any function related to Okada Manila’s casino operations including further disbursing of funds. PAGCOR has now allowed representatives of Tiger Resorts Asia Limited or TRAL to assume management of TRLEI.
“We believe that the order from Pagcor affirms our position in the intra-corporate dispute in Okada Manila,” the Business Mirror quoted Kenshi Asano, TRAL’s director, said in a statement.
“It is consistent with both the letter and spirit of the SQAO of the Supreme Court. We are hopeful that both the high tribunal and the Court of Appeals will agree and this issue can be put to rest very soon.”
