Universal Entertainment Corp, the company behind Okada Manila, is planning an intra-group “organizational realignment” aimed at protecting its businesses from “unsuitable individuals”.
The restructuring was announced in a filing to JASDAQ on Friday last week.
In order to achieve this, Limited Liability Company ABC will become the direct parent of Universal’s casino-related businesses, including Tiger Resort Asia Limited, Aruze USA, and UE Technologies Inc.
Limited Liability Company ABC is currently a subsidiary of WonderGraph CORP, a subsidiary of the company. Universal said in future, it intends to acquire of all of WonderGraph’s interested in Limited Liability Company ABC, thereby making it a subsidiary of the company.
Universal said the structure will allow for its casino-related businesses to continue operating even if an unsuitable individual assumes the post of direct at the company or its parent.
The latest announcement follows news that Universal Entertainment Corp has been looking to acquire licenses in the United States for the manufacture of equipment and devices used in its casino operations.
UEC said that the manufacturing license will protect the wider company from being affected should a shareholder or officer of the company become subject of an investigation and later be determined as an unsuitable individual.
Earlier this year, Universal Entertainment filed civil and criminal complaints against billionaire Kazuo Okada claiming its patent rights were violated and seeked compensation.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264