{"id":58896,"date":"2017-09-19T14:05:43","date_gmt":"2017-09-19T21:05:43","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=58896"},"modified":"2017-09-19T17:45:38","modified_gmt":"2017-09-20T00:45:38","slug":"universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/","title":{"rendered":"Universal Denies Kuzuo Okada Has Retaken Control of Parent Company"},"content":{"rendered":"

Japanese gaming giant Universal Entertainment has denied that its founder and former chairman Kazuo Okada<\/a> has reinstalled himself as a director of its parent company Okada Holdings.<\/p>\n

\"Universal
Kazuo Okada was expected to announce he had returned to the board of Okada Holdings, following a boardroom coup in early summer. But the anticipated press conference apparently never took place. (Image: Reuters)<\/figcaption><\/figure>\n

Okada was ousted from the boards of both Universal and Okada Holdings in early summer. Universal has accused him of three instances of fraud, related to the alleged misappropriation of some $100 million of company funds, and of being \u201cunfit\u201d to represent a public company.<\/p>\n

Okada has claimed the sum in question was a legal directors\u2019 loan that wasn\u2019t due for repayment until October, and that he was the victim of a boardroom coup instigated by his family, who collectively own a controlling stake in Okada Holdings.<\/p>\n

Okada, who was once the majority shareholder in Wynn Resorts, has launched legal proceedings against his son, daughter and wife in an attempt to wrestle back control of the parent company.<\/p>\n

Phantom Press Conference<\/strong><\/h2>\n

Universal\u2019s most recent announcement appears to be a response to a Reuters article from last week which claimed Okada was about to hold a press conference to announce he was back on the company board at Okada Holdings. The power shift had come courtesy of \u201ca change of heart by Okada\u2019s daughter,\u201d Reuters said, citing as a source \u201ca person close to the 74-year-old tycoon.\u201d<\/p>\n

Okada was also expected to announce an extraordinary shareholders\u2019 meeting to install a new board, himself included.<\/p>\n

But it\u2019s doubtful that the press conference, scheduled for Thursday, September 14, according to the source, ever took place because no media outlet reported on it.<\/strong><\/p><\/blockquote>\n

In a filing dated September 15, Universal moved to quash the rumors.<\/p>\n

\u201cUpon verifying the situation with Makoto Takada and Atsunobu Ishida, whom the company understands to be registered as directors of Okada Holdings, the company received the response that Mr Okada has not in fact legally acquired and maintained majority voting rights in Okada Holdings, including proxies to exercise voting rights in place of Okada Holdings\u00a0shareholders, nor has he been reinstalled as \u2018representative\u2019 or \u2018director\u2019 of Okada Holdings,\u201d read the filing.<\/p>\n

Allegations Restated<\/strong><\/h2>\n

Universal reiterated that a third-party probe it had commissioned into its founder had confirmed the allegations of fraud and that the company had \u201csincerely and solemnly\u201d accepted its results. The investigation had also alleged Okada had \u201cviolently intimidated and threatened\u201d a Universal executive, Yoshinao Negishi, with whom he is alleged to have been in cahoots.<\/p>\n

Universal has said it will publish the results of the investigation once it has redacted parts that that might reveal company secrets or sensitive information about its business partners.<\/p>\n

Meanwhile, the allegations against Okada<\/a> are also being investigated by the Nevada Gaming Control Board due to various licenses held by Universal and other companies affiliated to Okada in the state.<\/p>\n","protected":false},"excerpt":{"rendered":"

Japanese gaming giant Universal Entertainment has denied that its founder and former chairman Kazuo Okada has reinstalled himself as a director of its parent company Okada Holdings. Okada was ousted from the boards of both Universal and Okada Holdings in early summer. Universal has accused him of three instances of fraud, related to the alleged […]<\/p>\n","protected":false},"author":42,"featured_media":58897,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nUniversal Entertainment Denies Kuzuo Okada Has Retaken Control of Parent Company<\/title>\n<meta name=\"description\" content=\"Kazuo Okada has not reinstalled himself as a director of Okada Holdings, despite Reuters report, says Universal Entertainment.\u00a0\u00a0\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Universal Entertainment Denies Kuzuo Okada Has Retaken Control of Parent Company\" \/>\n<meta property=\"og:description\" content=\"Kazuo Okada has not reinstalled himself as a director of Okada Holdings, despite Reuters report, says Universal Entertainment.\u00a0\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-19T21:05:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-09-20T00:45:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/122216_okada-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"950\" \/>\n\t<meta property=\"og:image:height\" content=\"633\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/\",\"url\":\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/\",\"name\":\"Universal Entertainment Denies Kuzuo Okada Has Retaken Control of Parent Company\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/122216_okada-1.jpg\",\"datePublished\":\"2017-09-19T21:05:43+00:00\",\"dateModified\":\"2017-09-20T00:45:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Kazuo Okada has not reinstalled himself as a director of Okada Holdings, despite Reuters report, says Universal Entertainment.\u00a0\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/122216_okada-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/122216_okada-1.jpg\",\"width\":950,\"height\":633,\"caption\":\"Kazuo Okada was expected to announce he had returned to the board of Okada Holdings, following a boardroom coup in early summer. But the anticipated press conference apparently never took place. (Image: Reuters)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Universal Denies Kuzuo Okada Has Retaken Control of Parent Company\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\",\"name\":\"Casino.org Staff Writer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"caption\":\"Casino.org Staff Writer\"},\"url\":\"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Universal Entertainment Denies Kuzuo Okada Has Retaken Control of Parent Company","description":"Kazuo Okada has not reinstalled himself as a director of Okada Holdings, despite Reuters report, says Universal Entertainment.\u00a0\u00a0","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Universal Entertainment Denies Kuzuo Okada Has Retaken Control of Parent Company","og_description":"Kazuo Okada has not reinstalled himself as a director of Okada Holdings, despite Reuters report, says Universal Entertainment.\u00a0\u00a0","og_url":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2017-09-19T21:05:43+00:00","article_modified_time":"2017-09-20T00:45:38+00:00","og_image":[{"width":950,"height":633,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/122216_okada-1.jpg","type":"image\/jpeg"}],"author":"Casino.org Staff Writer","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Casino.org Staff Writer","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/","url":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/","name":"Universal Entertainment Denies Kuzuo Okada Has Retaken Control of Parent Company","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/122216_okada-1.jpg","datePublished":"2017-09-19T21:05:43+00:00","dateModified":"2017-09-20T00:45:38+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77"},"description":"Kazuo Okada has not reinstalled himself as a director of Okada Holdings, despite Reuters report, says Universal Entertainment.\u00a0\u00a0","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/122216_okada-1.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/09\/122216_okada-1.jpg","width":950,"height":633,"caption":"Kazuo Okada was expected to announce he had returned to the board of Okada Holdings, following a boardroom coup in early summer. But the anticipated press conference apparently never took place. (Image: Reuters)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/universal-entertainment-denies-kuzuo-okada-retaken-control-parent-company\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Universal Denies Kuzuo Okada Has Retaken Control of Parent Company"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77","name":"Casino.org Staff Writer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","caption":"Casino.org Staff Writer"},"url":"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/58896"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=58896"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/58896\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/58897"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=58896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=58896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=58896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}