Posted on March 16, 2020 - by Tammy Keezer
Universal Entertainment’s Kazuo Okada Ousted from Philippines Casino for Alleged $17 Million Improper Transfer

Japanese slots manufacturer and gaming Kazuo that is magnate Okada eliminated as president from Manila’s Okada Casino in the Philippines on Monday. It was the second position the 73-year-old billionaire has lost in as many weeks, after allegations that he improperly transferred $17.3 million from chichi casino Tiger Resorts Asia in March of 2015 to Okada Holdings.
Kazuo Okada (left, seen right here in 2004 with his former bestie, Steve Wynn) was ousted as chairman from his Okada Casino in the Philippines this week, as an research into a presumably improper $17.3 million transfer continues in that country.
Fourteen days prior, he had been relieved as chairman of Universal Entertainment Corp., the ongoing company he founded that controls both Philippine casinos.
‘As a result of the recent actions at Universal Entertainment a special stockholders’ meeting of Tiger Resort was convened followed by an organizational meeting associated with the board,’ stated the casino’s press release. ‘Mr. Kazuo Okada was removed as chairman of the board.’
‘Serious Violation of Governance’
The fraud that is potential uncovered earlier this thirty days and Okada was asked for the explanation as to why $17.3 million was taken from Tiger Resorts Asia and put in a company managed by Okada and his son. When he could not satisfactorily justify the transaction, Universal hired three external experts to work alongside an in-house auditor to uncover the alleged infractions.
It was discovered Monday that another $2 million was withdrawn at exactly the same time as the initial dollar transfer that is multimillion. That money was also obtained from a free account connected with Tiger Resort Asia.
In light of those alleged transgressions, Okada was stripped of their two chairmanships. The investigative committee expects to issue the full report by the end of June. It’s confusing yet as to whether Okada will face charges that are criminal.
Besieged by Controversies
It was the latest scandal the casino entrepreneur has endured. In addition to losing two power games, Okada is also the main topic of an FBI investigation, also in litigation along with his friend that is former Wynn.
The Bureau scrutinized him over a $40 million payment he allegedly made to a consultant in Manila in order to curry favor and get income tax breaks for his proposed $2.4 billion casino in that country. The US legislation agency became involved because under the Foreign Corrupt Practices Act, it is a crime for companies with US operations to bribe foreign federal government officials.
Casino titan Steve Wynn was leery of Okada’s dealings in the Southeast island that is asian in 2012, eliminated him from the board of Wynn Resorts. The two had possessed a long friendship, dating back to when the Wynn’s eponymous Las Vegas home was first being built. The Japanese businessman loaned Wynn $455 million for both their resort on the Las Vegas Strip and their home in Macau.
The duo had been poised to enter into a powerful partnership, but when the allegations of bribery arose, Wynn disavowed himself from Okada and also helped the FBI with its research. Okada and Wynn wound up filing legal actions against one other as well as the cases continue to be pending.
Aussie Authorities provide Go-Ahead for $9B Tabcorp Takeover of Tatts Group to generate Betting Giant
The merger of Australian betting giants Tabcorp and Tatts was approved by regulators Tuesday and could possibly be finalized next few months.
Tabcorp Chair Paula Dwyer said the merger would bring together ‘two great businesses that are australian although there remain many whom are critical of the merger on competition grounds. (Image: Josh Robenstone/The Examiner)
Just one day earlier in the usa, the Federal Trade Commission filed a lawsuit to block the proposed merger of day-to-day fantasy recreations sites DraftKings and FanDuel on grounds that it would violate antitrust laws and create a DFS monopoly.
But Tabcorp and Tatts, the two many dominant gambling companies in Australia, fared substantially better than their American counterparts.
Australian business oversight authorities saw the merger perhaps not as something that would create an unfair monopoly, but instead as something that would allow the two companies to contend with international online bookies who have entered the Australian betting room.
The Australian tournaments Tribunal said Tuesday it had been satisfied that the AU$11 billion ($8.3 billion) combination would result in ‘substantial public advantages,’ and offered its governmental blessing.
Dissent Down Under
Receiving a positive assessment was no bet that is sure. The competition that is australian Consumer Commission had told a two-week tribunal so it had severe concerns about how the merger could reduce competition for wagering licenses and news rights for state racing governing bodies.
But not everybody approves of the deal, particularly those who will need to compete with a new combined entity. Objectors include Racing Victoria, the body that is governing rushing in hawaii of Victoria, CrownBets, the digital arm of James Packer’s Crown Casino, and digital racing channel Racing.com.
To win approval, Tabcorp contended that the merger would create AU$130 million in expense savings (US $98 million), which would enable more funding for racing bodies, and pooling that is extra pari-mutuel betting.
The ACCC, however, reported this assessment may were overstated.
‘[As] the detriments that are public by the ACCC and the interveners are unlikely to either arise or are not of importance, the tribunal is satisfied in most the circumstances that the proposed merger would result, or is likely to result, in such an advantage to the public that the acquisition should be permitted to occur,’ said ACT president Justice John Middleton in delivering his verdict.
Building a Betting Powerhouse
The ACT placed just one condition in the merger: that Tabcorp must sell its ‘pokies’ (slot machines) monitoring company, Odyssey Gaming. Tabcorp expected this requirement, and has recently begun work to sell that right part of the business enterprise to casino and tourism group Federal Hotels.
‘The combination will bring together two great Australian companies, well positioned to invest, innovate and compete in a global gambling activity marketplace,’ Tabcorp seat Paula Dwyer said within an statement that is official. ‘We anticipate continuing to work with Tatts to effectively complete the transaction and will work towards implementation in 2017. august’
The merged companies will control about 90 percent of Australia’s tote betting market and is and is expected to generate yearly revenues of more than AU$5 billion ($3.8 billion).
Parties objecting to the deal have 28 days to allure against the tribunal’s decision.
‘ We are going to review the determination that is formal reasons when they’re published on Thursday and then consider our options,’ stated CrownBet primary professional Matt Tripp.
Florida Judge Makes Dramatic U-turn on Pre-reveal ‘Slot’ Machines
A Florida judge possessed a complete modification of heart in regards to the legality of alleged ‘pre-reveal’ gaming machines this week.
Judge John Cooper admitted he ‘got it wrong’ on pre-reveal machines and was quick to add that the reversal decision had nothing to do with the political situation involving the Seminoles. (Image: AZ Central)
In March, Judge John Cooper ruled the machines were ‘not an illegal slot machine or gambling unit’ because he felt one thing couldn’t be looked at a game of chance if the result was understood in advance.
But the Seminole Tribe of Florida asked him to reconsider, warning that the declared legality associated with the devices ended up being in breach of its compact with all the state and could price their state billions of dollars in future revenue-share payments.
‘Slots-style type games materially the identical to these have been held by federal and state courts in other jurisdictions to be illegal slot machines and are also a definite violation of the Tribe’s negotiated exclusivity as set forth in its gaming lightweight aided by the state which guarantee exclusive procedure of slots outside of Miami-Dade and Broward counties in exchange for monthly premiums,’ wrote Marcellus Osceola Jr, president of the Tribal Council.
Nothing in connection With the Seminoles
On Cooper changed his mind monday. Pre-reveal machines, which may be discovered in bars throughout the state, were unlawful unregulated slot machines, he said.
He had gotten it ‘wrong the time that is first,’ he admitted, because he hadn’t fully understood the nature of the machines.
His reversal had nothing related to pressure from the Seminoles but ended up being according to hearing arguments that are further how pre-reveals actually work, he added.
‘My holding is perhaps not in relation to whether (the Tribe) likes the ruling or dislikes the ruling,’ stated Cooper.
The devices, written by the Gator Coin II Company of Jacksonville, which brought the case that is original invite players to press a preview switch before play can be activated, which informs them or perhaps a next spin will win or lose.
‘No Chance’ Machines
Gator Coin contends that the machines are ‘no chance’ devices since the upshot of each spin is recognized to the gamer before it happens. Nevertheless the the reality is, the player is ultimately gambling on winning the spin afterwards, which remains unknown.
Other than that, the machines look like slots and, like slots, ‘operate upon the insertion of award and money prizes through the element of chance,’ according to their state’s filing.
Cooper stated he now understood the overall game was a ‘series of plays,’ including known and unknown results.
Kathey Bright Fanning, president of Gator Coin II company told reporters outside the court she was ‘disappointed’ with the judge’s reversal.
Grand Lisboa Palace Construction Halted in Macau Following Worker’s Fatal Fall
Grand Lisboa Palace will probably have to push back its planned March 1, 2018 opening after construction was ordered to stop following still another death on the home web site.
Workers drill on a construction site in Macau, but it’s peaceful at the Grand Lisboa Palace after a 2nd laborer fell to his death. (Image: Lam Yik Fei/Getty Images)
On the week-end, a 47-year-old construction worker dropped some 33 feet to their death. It marks the death that is second the $3.8 billion casino resort build began back in 2014. Final September, a worker was struck and killed by a piece of glass.
The events that are tragic led the Macau federal government into purchasing the property to prevent construction. The Labour Affairs Bureau, a public department for the Macau Special Administrative area accountable for overseeing safety that is occupational health, will soon begin an investigation.
The government agency explained, ‘The Labour Affairs Bureau has given a suspension order towards the contractor so that you can protect the safety of other workers; and ordered the specialist to fully implement effective measures that improve occupational safety. in a statement’
The agency gave no indicator as to how long its investigation may take, but added that construction ‘can only resume after getting approval from the Labour Affairs Bureau.’
SJM Holdings, the organization owned by billionaire Stanley Ho who held a monopoly on Macau gaming for decades, is developing the resort that is massive.
Unfortunate The Main Job
Roofers, carpenters, steel workers, and other various construction jobs come with more risk compared to the average career. And in the casino business, there’s been many deaths from Macau to Las Vegas.
In March, a 43-year-old Chinese national focusing on the construction regarding the Imperial Pacific Resort Hotel in Saipan fell to his death. The FBI, which has jurisdiction over the Pacific that is western Ocean because it’s a commonwealth of the United States, later made an arrest for so-called safety shortcomings.
The tragic loss of life on construction sites is actually relatively rate while the deaths make plenty of headlines.
In 2014, Macau had over 60,000 employees that are hard-hat task sites. But after 11 construction workers died over a two-year period, the city applied additional safety rules governing contractors.
Losing It All in Las Vegas
Las vegas, nevada wouldn’t be the city its without the construction of this Hoover Dam. Today, las vegas is America’s playground, but during a period that is five-year 1931 and 1936, Clark County offered migrants much more substantial risk than odds now found on casino floors.
Located about 30 miles southeast of Las Vegas, 112 workers lost their lives while building the Hoover Dam. The first had been JG Tierney, a surveyor, and eerily, the last was his son, Patrick, an ‘electrician’s helper.’
While organized crime helped build the nevada Strip, construction in the Mojave Desert has been relatively safe throughout the years. That changed in 2006 with the building of CityCenter, an enormous 76-acre complex developed by MGM Resorts and Dubai World, a good investment company in the United Arab Emirates.
Anchored by the Aria, construction on CityCenter took the full lives of 12 building industry workers. The deadly project led to hearings in both chambers of Congress. The Southern Nevada Building and Construction Trades Council eventually forced the designers to cover additional safety training for workers, and allow union leaders full and access that is continuous the job site.
Former Employee Blows Whistle on ‘Scam’ Skins Gambling Sites
Skins gambling ‘case-opening’ sites regularly scam their customers with ‘inherently dishonest and deceptive’ techniques.
That’s the claim of an one-time coder of several such sites who revealed his former employers’ strategies to esports journalist Richard Lewis, at RLewisReports.com, on condition of anonymity this week.
Gunning for skins gambling: Whistle-blower says that CS:GO situation sites that are opening fraudulent practices to deceive their consumer, like the sinister and distasteful ‘rape mode.’
Case-opening sites are perhaps the simplest form of skins gambling and as an outcome have mainly escaped the recent crackdown on the skins gambling industry, launched final summer by Counter Strike: Global Offensive (CS:GO) developer Valve.
The websites offer users a catalog of variously priced digital cases to choose from, each fully guaranteed to contain a ‘skin,’ a very prized item that is virtual CS:GO. Skins are designer weapons found in cases throughout the game with varying examples of rarity.
These products are traded between players, forming the currency of an in-game economy, however their different amounts of desirability, based on their respective scarcity, means they have actually a real-world value too.
Skewed Win-rates
The gambling industry that evolved around the skins trading market was said to be worth $5 billion in 2016, until Valve, faced with lawsuits that accused it of assisting underage gambling, moved to shut it down.
Valve, which didn’t profit directly through the gambling that is third-party, wrote stop and desist letters to the major players, threatening to sever their use of the Steam trading platform, which will destroy their ability to trade in skins.
But case-opening sites were perhaps not targeted, although, according to Lewis’ supply, they needs been. The origin accuses a number of these internet sites of skewing winrates, concocting fake winners, and engineering wins for sponsors in order to be broadcast on YouTube, in an effort that is concerted deceive their customers.
YouTubers in on Scam
The source also describes a functionality known as distastefully as ‘Rape Mode,’ that may guarantee players are given the cheapest skins from any full case each and every time.
‘On the front of the site it says it is possible to win a knife, or an item that is expensive’ the foundation said. ‘Meanwhile the website has it set to zero so that you literally can’t. Every site I’ve worked on does it this real way and demands these features.’
The foundation alleges content creators whom sponsor and promote the sites are in on the scam and are able to set their own win that is favorable, which they can broadcast to unsuspecting consumers, a scheme called the ‘soak system.’
‘In essence, promoters can set their premium that is own skin percentages therefore the value of skins won, especially without a limit,’ summarizes Lewis. ‘The site it self can additionally manually set a creator up for a win in a given time frame to even scam their own sponsor.’
Skins gambling largely exists beyond the reach of regulators, but Lewis’ source thinks case-opening sites have a short shelf-life and that once their practices are common knowledge Valve will shut them straight down.
Conor McGregor Attracting More bets in Las Vegas, But the Money Still on Floyd Mayweather
UFC champ Conor McGregor is the hefty underdog in the August 26 boxing match from the GOAT, Floyd Mayweather, but that isn’t stopping bettors from flocking to vegas to put money on the mixed martial arts (MMA) star.
Conor McGregor (left) might do have more fans rooting him on when he fights Floyd Mayweather in August at vegas’ T-Mobile Arena. (Image: Mark Terrill/Associated Press/MMAJunkie)
Oddsmakers in Nevada say they’ve printed more slips on McGregor than Mayweather, however the majority associated with cash nevertheless remains utilizing the favorite. The odds that are current the Westgate SuperBook put McGregor at +500, and Mayweather at -700.
Las Las Vegas has had at least two $50,000 wagers on Floyd on chances that could return just $6,250. Nevertheless the bulk of smaller bets placed in Sin City have been on the underdog.
‘It’s been all McGregor, it is unbelievable,’ Caesars Palace sportsbook director Frank Kunovic told the Las Las Vegas Review-Journal. ‘All the square action is going on McGregor. That is clearly a big liability he does win. for us if’
As for way of triumph, Mayweather by knockout (KO) is the favourite at -200. Mayweather by decision is next at +220. McGregor by KO is at +600, and by choice +3000.
Can McGregor Win?
Boxing experts say the UFC champ, who’s never boxed professionally https://real-money-casino.club/, does not have any chance against probably the boxer that is best to ever step foot into the band. MMA fans feel the boxing world is being fully a bit too overzealous on Mayweather, nonetheless, and McGregor certainly doesn’t absence confidence.
Twelve years Mayweather’s junior, McGregor, 28, recently shared a photo of the 40-year-old into the fitness center with the caption, ‘Much respect to Floyd Senior still getting a rounds that are few at the gym. I hope i could still train at that age. Respect.’
By having an undefeated perfect 49-0 job record, trash talking Mayweather might not maintain McGregor’s best interest.
Much of the boxing community believes the battle is simply as a marketing ploy that will see few punches landed by the UFC star. From Oscar De Los Angeles Hoya to Lennox Lewis, a number of boxing’s greats have criticized Mayweather’s money grab and willingness to fight an inexperienced opponent.
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