There is a dispute over public statements Okada Manila

While awaiting court proceedings, the battle for the Okada Manila casino resort continues to rage through a sharp exchange of remarks between the opposing parties – the group led by Japanese billionaire and founder of the resort, Kazuo Okada, and the board of Tiger Resorts, Leisure and Entertainment Inc.

A group led by the founder of the Okada Manila casino resort took control of the venue on May 31, backed by a Supreme Court Status Quo Ante Order. The TRLEI board that was backed by TRAL was removed from the property by Okada and Antonio “Tonyboy” Cojuangco. TRAL, which has a 99% stake in TRLEI, declared Okada’s board illegitimate and disputed his actions in court.

The group led by Kazuo Okada stated at a press conference on July 11 that visitors to the resort have increased by 8% in May compared to the previous month and have reached 75% of their foot traffic. There has been an increase in revenue since the group took over the resort.

The board supported by TRAL condemned these statements as ridiculous and not being based on facts after the press conference. As proof, the TRAL-backed board pointed to a variety of measures in terms of health,sustainability, and marketing that are put in place, while it was running the resort.

The board of TRLEI said that the proclamations of the Kazuo group were not correct. They said that the increased revenue is coming from the effective recovery plan the TRAL-backed board implemented to deal with the Pandemic and is also the result of the constrained demand for tourism and leisure, which is being unleashed as COVID measures are relaxed.

The continued claims of the board that Kazuo Okada is the CEO of the company were shown at the press conference. The lawyer for the group disputed that Okada holds only one share in TRLEI.

There are still 29 unresolved legal charges against Okada in six different countries, according to the TRAL-supported board. It was discovered that he had stolen $20 million from the company, funds that are still to be recovered, and that’s why he was removed from TRLEI.

Both parties are waiting for a court decision in their favor as they wait for the legal resolution of their dispute.

Summary:

The board of Tiger Resorts, Leisure and Entertainment Inc (TRLEI), which is backed by The Tiger Resort Asia Ltd (TRAL), has condemned the claims made by the group led by Kazuo Okada that visitors at Okada Manila increased by 8% in May compared to the previous month. The TRAL-backed board said the increased revenue is coming from the effective recovery plan implemented to deal with the pandemic.