After being removed as Chairman for Universal Entertainment Corporation and its casino-operating Tiger Resort, Leisure and Entertainment Incorporated subsidiary in the summer, Japanese businessman Kazuo Okada is now being sued by the firm for an alleged breach of contract.
According to a report from GGRAsia, septuagenarian Okada is facing a bill in excess of $890,600 after Universal Entertainment Corporation filed a motion in Tokyo District Court contending that his Aruze Gaming America Incorporated slot and electronic table games manufacturing entity had failed to pay a series of patent licensing fees.
In an official filing, Osaka-listed Universal Entertainment Corporation reportedly declared that its own investigations had “verified that Aruze Gaming America [Incorporated] has continued to use company-held patents without permission” while determining that there was “an extremely high possibility that it is manufacturing and selling products using those patents”.
GGRAsia reported that Universal Entertainment Corporation stated that it will moreover be asking the court for “an injunction to stop said manufacture and sales activities by Aruze Gaming America [Incorporated]” before adding that it was still reviewing the consequences of the alleged breach on its own business.
Universal Entertainment Corporation is a manufacturer of pachinko, slot and arcade games while Tiger Resort, Leisure and Entertainment Incorporated is responsible for the giant Okada Manila integrated casino resort in the Philippines. It decided to replace Okada in June following an investigation into allegations that the billionaire businessman had purportedly aided in the improper transfer just over $17.93 million of company funds to an undisclosed third-party.
Okada holds a 46.4% stake in Okada Holdings Limited, which is the Hong Kong-based parent of Universal Entertainment Corporation, and subsequently faced accusations that he may have been connected to two additional instances of misappropriation worth approximately $2.22 million.
In defending himself, Okada has repeatedly described these allegations as “nonsense” while additionally painting the entire matter as an attempt by Jun Fujimoto, President for Universal Entertainment Corporation, to seize overall control of the firm.