CASINO

PAGCOR casino license revocation imminent for Okada?

TAGs: Casino News, Kazuo Okada, PAGCOR, Universal Entertainment

okada-bribes-pagcor-licenseReiterating his stance from a few months ago, Philippine Amusement and Gaming Corporation (PAGCOR) chairman Cristino L. Naguiat Jr. didn’t hesitate in laying down the law on Kazuo Okada if the latter is found guilty of violating the country’s laws.

The Japanese gambling tycoon is currently mired in the middle of allegations of violating Philippine law, specifically the Anti-Dummy Law and the Foreign Investments Act of 1991. Last month, the PH Department of Justice recommended the filing of these violations against Okada and a bevy of other individuals and companies tied into Universal Entertainment’s multi-billion dollar Entertainment City project in the Philippines.

For its part, Pagcor is waiting to see how the case against Okada transpires before handing out any decisions. But make no mistake, the government agency is keenly watching the proceedings and if the tycoon is found guilt of these transgressions, the government agency is ready to mete its own form of punishment: stripping Okada’s Universal Entertainment of its casino license in the country.

“If any of our proponents has been found in violation of any Philippine law, we will not give them the go signal to operate,” the Pagcor chief said, as quoted by ABS-CBN. “They have to prove their innocence in a court of law, but of course, we’ll have due process.”

Should Okada lose his casino license, Pagcor’s protocol would be to open the vacated license for bidding to any interested company willing to invest in Entertainment City. Universal’s hotels and restaurants will stay on, Naguiat clarified, but as far as the company running its own casino, well, that’s completely out of the question if Okada is deemed guilty of all the recommended charges filed against him.

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