The Philippine Amusement and Gaming Corp. (Pagcor) chaired by Andrea Domingo is supporting Japanese billionaire Kazuo Okada’s move to regain control of his casino hotel in Paranaque City.
Brute force, intimidation: Tonyboy Cojuangco and 50 goons storm Manila casino to reinstate Kazuo Okada, ‘kidnap’ Asiabest chairman Tokuda
Pagcor issued the statement two days after Okada’s group, led by bilyonaryo Tonyboy Cojuangco and Dennis Espeleta, booted out officers of Tiger Resort Leisure & Entertainment led by Hajime Tokuda from the board and management of Okada Manila.
“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,” said Pagcor.
Pagcor said Okada’s Group was merely implementing the status quo ante order (SQAO) issued by the SC last month ordering the retention of Okada as stockholder, director, chairman and CEO of Tiger Resort. Okada’s group was kicked out in an ugly boardroom battle in 2017.
Pagcor sent a team to monitor the May 31 takeover “with the purpose of protecting the interests of PAGCOR and the Government, and to ensure that operations are not disrupted and the welfare of the playing patrons is ensured.”
Based on the report of the Pagcor monitoring Team, Okada’s group arrived at Okada Manila at 9:45 AM on May 31 with Cojuangco and Espeleta accompanied by members of the Philippine National Police and Sheriff from the Supreme Court.
Pagcor said the group met with Tokuda who received the SQAO from the Sheriff. Okada was present in the meeting through a ZOOM conference which ended at around 12:10 PM.
Pagcor maintained that “Tokuda was then escorted outside the premises without being bodily hurt” noting that the takeover was covered by Close Circuit Television (CCTV) cameras.
The Tiger Resort camp had previously claimed that Cojuangco brought with him thugs to bodily remove Okada Manila officials who ousted Kazuo.
Peer pressure? All eyes on Diokno, Balisacan, Pascual as their former colleagues bash Marcos’ wealth fund
Former colleagues of President Bongbong Marcos’ economic managers are vigorously opposing the plan in Congress to put up a Maharlika sovereign wealth fund.