Wager Mage
Wager Mage
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Japan's Universal Entertainment takes over operations of Okada Manila casino. MANILA, Sept 4 (Reuters) - Japan's Universal Entertainment Corp (6425.
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Read More »[1/2] The logo of Universal Entertainment Corp. is seen at the company's headquarters in Tokyo, Japan, June 29, 2017. REUTERS/Toru Hanai MANILA, Sept 4 (Reuters) - Japan's Universal Entertainment Corp (6425.T) said on Sunday its local representatives in the Philippines have taken over the operations of the Okada Manila gambling resort, the latest step in a long-running ownership dispute. Universal said in a statement accompanied by a copy of a Sept. 2 order from the local gaming regulator that the takeover of the $3.3 billion gambling resort, the largest in Southeast Asia, had been "generally peaceful". The regulator, Philippine Amusement and Gaming Corp. (Pagcor), said in its order that it was withdrawing its recognition of board members of Tiger Resort Leisure and Entertainment, the developer and operator of Okada Manila, previously installed by a group including Japanese tycoon Kazuo Okada. Pagcor also directed Okada's Filipino partners to stop operating the casino and disbursing funds from the property's coffers. Pagcor said that only Okada himself would be recognised henceforth, in compliance with a Philippine Supreme Court order in April that reinstated the pachinko mogul as chairman, stockholder and director of Tiger Resort. Okada had been ousted from both Tiger Resort's and from Universal's boards in 2017. The group of Okada and his Filipino associates, however, said on Sunday that Pagcor had defied the Supreme Court order and that they would take legal action over the matter. They did not elaborate. In a notice issued on Saturday after the order from Pagcor, Okada Manila had said "business remains as usual" at the 44-hectare (108-acre) resort. Okada Manila started operations late in 2016. With 993 suites and villas, 500 table games and 3,000 electronic gaming machines, it is the biggest of four multibillion-dollar casino-resorts operating in the Philippine capital, which has one of Asia's most freewheeling gaming industries.
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Read More »Chief Gabriel Osawaru Igbinedion There is however a bigger history behind the name okada. The word Okada is the name of a town and the headquarters of a local government area in Edo State. In the 1960s, Chief Gabriel Osawaru Igbinedion, a Nigerian businessman and the Esama of the Benin Kingdom began expanding his business reach across the country.
In January 2020, the Nigerian word for its commercial motorcycles “okada” was added to the Oxford English Dictionary, along with other Nigerian words. For many people, the word okada simply refers to those motorcycles that are able to navigate the most jammed roads with ease. There is however a bigger history behind the name okada. The word Okada is the name of a town and the headquarters of a local government area in Edo State. In the 1960s, Chief Gabriel Osawaru Igbinedion, a Nigerian businessman and the Esama of the Benin Kingdom began expanding his business reach across the country. In the long line of businesses he holds are a private bank, a private university (the Igbinedion university), a chain of hotels, a number of private hospitals across Nigeria and a private TV and radio station. Asides these, he is also credited as the previous owner of the very first private airline in 1983 which he named Okada Airlines after his hometown in Benin. This airline boasted more than 40 planes and helicopters and catapulted the Chief into prominence and greater wealth. In the 1980s, motorcycles became widespread as an alternative means of transportation in many major cities in Nigeria. These motorcycles were able to meander through the most daunting traffic and deliver commuters to their destinations speedily and soon were nicknamed Okadas after the airplanes which zipped across Nigeria. The name stuck and today, these imported commercial motorcycles are simply called “okada.” By the mid-1990s, Okada Airlines began to decline in standard. Having recorded three major crashes between 1988 and 1992, the airline was not able to bounce back as it finally wound down operations in 1997. The motorcycles outlived the airlines after which they were named.
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