Okada’s license may be revoked
THE casino license of Japanese trader Kazuo Okada may be canceled if it is proven that he bribed a Philippine Amusement and Gaming Corp. (Pagcor) consultant with $5 million at a time when he was lobbying to win
concessions for a $2-billion casino on Manila Bay, Malacañang said on Monday.
Palace spokesman Edwin Lacierda said that the license that was granted to Okada is on the line with respect to the investigation over the alleged bribery.
According to an exclusive Reuters report, US gaming regulators are investigating millions of dollars paid by affiliates of Okada’s Universal Entertainment Corp. to Pagcor Consultant Rodolfo Soriano.
The probe could also complicate Universal’s push to complete the casino on Manila Bay that it began building in January and has promoted as a VIP destination resort.
“If there’s proof that the license was obtained through bribery, then there may be reasons to consider canceling the contract,” Lacierda said.
Okada’s Tiger Resort Leisure and Entertainment Inc. is one of the four groups given a license to operate a casino in Pagcor’s Entertainment City. Okada is planning to build a $2-billion worldclass resort-casino complex in Entertainment City. The group has also teamed up with Andrew Tan’s Empire East Land Holdings to develop a luxury residential resort condominium project.
Earlier report said that a Universal subsidiary made a $ 5- million payment in May 2010 to Soriano, which was based on the examination of bank records, corporate filings, court documents and records prepared by Universal’s staff.
The $5-million payment was made via a shell company in Hong Kong and was part of the $40 million in transfers made by Universal’s US affiliate Aruze USA.
Sen. Miriam Defensor-Santiago on Monday urged the Senate to investigate the case.
She said that former Pagcor chairman Efraim Genuino and Soriano should explain and account for the alleged millions of dollars they received from Universal.
“They could be facing up to ten years imprisonment, perpetual disqualification from public office and confiscation or forfeiture in favor of the Government of any unexplained wealth if found to have violated the Anti-Graft and Corrupt Practices Act,” she added.
Santiago said that she was aghast that a mere consultant appeared to have been representing Pagcor and negotiating with Universal for a $2billion dollar project.
Pagcor gave assurances that it will coordinate and cooperate with the investigating agencies, particularly the US Federal Bureau of Investigation, the Department of Justice and the National Bureau of Investigation.