Japanese gaming tycoon Okada arrested in PH, posts bail

Japanese gaming tycoon Kazuo Okada was arrested Monday upon his arrival in the Philippines over grave coercion charges.

Authorities nabbed Okada at the Ninoy Aquino International Airport (NAIA) Terminal 1 after he landed from Haneda, Japan.  His camp said he immediately posted bail for his freedom.

The Metropolitan Trial Court of Parañaque Branches 90 and 91 issued the  warrants of arrest on October 11.

Okada, together with his business partners Antonio “Tonyboy” Cojuangco, Dindo Espeleta, and lawyer Florentino “Binky” Herrera, are facing criminal charges for grave coercion due to their illegal and violent takeover of integrated casino resort Okada Manila last May 31.

The Supreme Court in April ruled that Okada could once again lead the Okada Manila integrated casino-resort as chief executive officer of its operator Tiger Resorts.  He led the company until he was ousted in 2017 on suspicion of misappropriating $3 million.

But Tiger Resorts—owned by Japan-based Universal Entertainment—has appealed against the Supreme Court ruling. Okada was also ousted from Universal's board in 2017, with directors accusing him of misappropriating $20 million in funds, which he denied.

“We are grateful to the Philippine authorities for their swift arrest of Kazuo Okada. We will continue to work with the law enforcement units to bring Kazuo Okada to justice, as we have done in the past in other jurisdictions,” Tiger Resort Asia Ltd. director and representative to TRLEI Kenshi Asano said in a statement released on Tuesday.

“As we wrap things up in fixing the mess that The Kazuo Okada Group brought to Okada Manila, we are optimistic that the intra corporate dispute will soon be resolved by the Philippine courts,” Asano added.

In response, Okada said he insisted on coming back to the Philippines despite the warnings he received that he will be detained by authorities.

“I want to show to the Filipino people and the world that I am not afraid. I came back to face this ‘grave coercion’ charge against me and my associates. I have nothing to fear when I know I am standing on the right side of the law. I will not bow down to intimidation, and I will not back-off from this legal battle. This fight isn’t over,” he said in a statement released on Tuesday.

Okada said that he is confident that the legal process in the country’s court will vindicate him and his business associates against the cases they are facing.

“I have given my instructions to my legal team to avail of all legal remedies to ensure that those who fooled and robbed me in Okada Manila be sent to jail for their lies, deceit and usurping operational control of Okada Manila,” he said.

The 44-hectare Okada Manila, located beside the Manila Bay, features 993 suites and villas, 500 table games and 3,000 electronic gaming machines. It is among the four multi-billion dollar casino-resorts operating in the capital.

Okada Manila went public in the United States in 2021 through blank-check firm 26 Capital Acquisition in a $2.5-billion deal.—LDF, GMA News