Kazuo Okada’s Universal Entertainment said in a filing to Jasdaq on Friday that it would continue to release the results of its arms length report, which it commissioned “a total of US$30 million in 2010 expenditure.” It noted that a criminal investigation into the matter is ongoing.
Based on the results of the report, Universal Entertainment filed a criminal complaint against a former company employee with the Tokyo District Attorney’s Office on May 29, according to the filing. The filing did not specify the person’s name.
In early June, there were reports that a former Universal Entertainment employee filed a criminal complaint against Okada in May. In the complaint, Takafumi Nakano claimed that Okada, who built his first fortune in Japan by making pachinko machines, instructed him to pay bribes to advance the $2.3 billion Manila Bay Resort casino site under construction in the Philippines.
In mid-June, a lawyer for Universal Entertainment said there was “no basis for allegations that it paid an improper price for preferential treatment.”
Universal Entertainment released its own report on Friday: “Releasing an interim report … is inappropriate at this stage, given the possibility that such disclosure could hamper the investigation.”
Allegations of illegal payments related to the Manila Bay resort scam have been subject to separate investigations by the Philippine Justice Department, the U.S. Federal Bureau of Investigation and Nevada gaming regulators.
In July last year, a report commissioned by Universal Entertainment said the former director had changed the minutes that management had approved US$25 million collectively.
In September, Tiger Resorts, Leisure and Entertainment, the developer of Mr. Okada’s Manila Bay resort, said the property was scheduled to open in phase one at the end of 2015.
In early October, Philippine gaming regulator Pagcor said it was considering an order to forfeit a 100 million PHP ($2.2 million) deposit filed by Okada’s side. Under the investment agreement, it could happen if the Manila Bay resort cannot be opened in early 2015. 바카라사이트
Under Philippine law, negotiations over a local partner on the land where the casino resort is located have reported delays in the project.