Bilyonaryo Tonyboy Cojuangco’s group assured Okada Manila’s customers that “all operations remain business as usual” despite the abrupt change in management.
Okada’s group issued the statement shortly after Japanese billionaire Kazuo Okada’s hostile takeover of the 44-hectare casino hotel on May 31.
Okada was reinstalled as chairman while his allies, Cojuangco and Dindo Espeleta, were named president and vice chairman in place of the previous board and management of Tiger Resort Leisure and Entertainment.
Brute force, intimidation: Tonyboy Cojuangco and 50 goons storm Manila casino to reinstate Kazuo Okada, ‘kidnap’ Asiabest chairman Tokuda
Tiger Resort accused Okada’s group of thuggery when they allegedly stormed the casino hotel on May 31 and bodily removed its directors and officers with the help of 50 private bodyguards and policemen.
In a statement, Okada’s camp claimed that its takeover was made “together with the sheriff and witnessed by Pagcor (Philippine Amusement and Gaming Corp.).”
Okada’s group maintained that it was merely implementing the Supreme Court’s status quo ante order issued in April which directed Okada’s “immediate reinstatement as shareholder, director, chairman and CEO” of Tiger Resort.
Okada’s group said its owner and founder re-installed the board of directors and officers of Tiger Resort in May 2022 which it claimed was “recognized by Pagcor as the legitimate board and officers of Tiger Resort and consistent with the SQAO.”
Okada’s group said it pushed through with the takeover “while awaiting action” from the SC on the motion to reconsider the SQAO.
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