CLAIMS TO FAME
- Heads only Japanese company to operate its own integrated resort
- Deposed Universal’s founder, Kazuo Okada, in 2017
HAVING ASSUMED control of Japanese gaming giant Universal Entertainment Corp following the ousting of company founder Kazuo Okada in 2017, Jun Fujimoto has faced no shortage of challenges to his authority in recent years – particularly when it comes to Philippines integrated resort Okada Manila.
In May 2022, a group representing Mr Okada stormed the property and seized control on the pretense of a court order demanding the board of Universal subsidiary Tiger Resort, Leisure and Entertainment Inc (TRLEI), which operates Okada Manila, be restored to its 2017 line-up.
The Okada occupation lasted three months before Philippines gaming regulator PAGCOR intervened – paving the way for the Universal backed board to forcibly reclaim control by means starkly similar to those through which they had lost it.
While Mr Okada’s threat appears to have waned – he has had at least two arrest warrants issued by Philippines courts and was briefly detained upon landing in Manila a year ago – other challengers have emerged.
In February, Okada Manila’s former merger partner – part of its efforts to be listed on the US NASDAQ – filed a lawsuit claiming Universal entities had been too slow in consummating the merger. Universal disagreed and terminated the merger instead, with a judge ultimately agreeing to disperse in July.
On a brighter note, business is booming with Universal recently revising upwards its FY23 outlook due to the strong performance of both Okada Manila and its traditional pachinko business in Japan.
For the full list of 2023 Asian Gaming Power 50 winners, click here.
