Kazuo Okada’s Universal Entertainment will probably keep its Philippines gaming licence and go ahead with the building of a $1bn casino.
Philippine Amusement and Gaming Corporation’s vice presidenr for legal affairs, Jay Santiago, said there is insufficient evidence to revoke Okada’s licence and he questioned the motivation of the whistle blower who alleged bribery by Universal to get the licence.
The Philippine Office of Government Corporate Counsel has also upheld Okada’s licence. Clearing Okada also means the allegations will not muddy his effort to get back his 20 per cent stake in Wynn Resorts that he lost through a forced redemption when Wynn alleged other activities related to the Philippine licence made Okada unsuitable for licensing. Okada is suing to get back his shares.
