Asia round-up: Okada – A family affair, Macau’s concession panel, Victoria & more
Okada "disrespectful and perverted," according to son
The Okada Manila saga continues to provide no shortage of headlines. The son of Kazuo Okada, Tomohiro Okada, has accused his father of a “disrespectful and perverted” interpretation of a Status Quo Ante Order.
Kazuo Okada received the order when a Philippines court found he had not committed crimes of fraud and money theft from Tiger Resorts, Leisure & Entertainment (TRLEI).
TRLEI, a subsidiary of Universal Entertainment, is the legal operator of Okada Manila. The company removed Okada from the Board once allegations that the casino mogul stole $3m from the business came to light.
However, on 31 May 2022, Okada used the Status Quo Ante Order – which legally reinstated him as CEO and Board Member of TRLEI – as a means to storm the resort and reclaim it by force.
Okada has been the occupant ever since and has been met with claims of brash illegality in his retaking of it – notably from TRLEI Board Members and representatives of Universal Entertainment.
One such member is none other than Okada’s son, Tomohiro Okada, who voted for his father to be removed from the TRLEI Board when allegations about his father first surfaced.
Speaking at a press conference, Tomohiro Okada said: “I have long disagreed with the management and ethics of my father, as he always acts as if he is above the law.
“He has lost all sense of legality and good governance. He uses his companies as his personal piggy bank, which led to the numerous cases he now faces. I refuse to be associated with my father and his sham Board – and to tolerate such behaviour.”
Macau sets up panel to assess new concession bids
Macau’s Government has set up a committee to examine and evaluate bidders for new casino licences.
The region’s concessionaires are set to be decided upon by the end of the year, after Macau extended its current concession period from June 2022 to December 2022.
“Everyone experiences gambling harm differently, and tailored treatment options are so important for long-term recovery”Melissa Horne, Minister for Consumer Affairs, Gaming and Liquor Regulation
This extension period was announced to account for a protracted legal period, in which changes to Macau's gaming law were ratified for the future.
There are six concession holders in Macau. Current holders are Sands China, Wynn Macau, MGM China, Galaxy Entertainment, SJM Holdings and Melco Resorts.
Elsewhere, Yan Zhaojun, a Zhongtai International strategic analyst, has backed up the prediction made by gaming industry expert Ben Lee, suggesting July will see a record low in gross gaming revenue (GGR) for the Macau region.
Victorian Government launches trial programme for sufferers of gambling harm
The Andrews Labor Government in Australia has launched a trial programme for people experiencing the impacts of gambling harm.
The programme, aimed at locals in Victorian city Ballarat, involves tailored treatment and support services.
Launched by Minister for Consumer Affairs, Gaming and Liquor Regulation Melissa Horne, Member for Buninyong Michaela Settle, and Member for Wendouree Juliana Addison, the pilot equips applied health professions with a new way of screening patients to determine the best treatments to help them recover from gambling addiction.
“Everyone experiences gambling harm differently, and tailored treatment options are so important for long-term recovery – which is exactly what this tool provides,” said Minister for Consumer Affairs, Gaming and Liquor Regulation Melissa Horne.
Solaire Resort & Casino officially tops off second Philippines property
Solaire Resort & Casino has completed construction on its second resort in the Philippines, Solaire Resort North. The property is situated in Vertis North, Quezon City.
Solaire claims its new resort will cater to northern and eastern markets of Metro Manila and the National Capital Region.
The property is expected to offer hotel, gaming, restaurant and bar services once open.
Thailand to build casinos?
The country's motion to develop casino resorts comes after a panel of Thai lawmakers submitted a report to parliament, according to Bloomberg.