In this week’s Asia round-ups, Gambling Insider brings you an exclusive series of insights from SpringOwl Asset Management CEO and Co-Founder, Jason Ader

In this week’s Asia round-ups, Gambling Insider brings you an scoop serial of insights from SpringOwl Asset Management CEO and Co-Founder, Jason Ader. Ader is working to have Okada capital of the Philippines public via his 26 Washington Special Purpose Acquisition Corporation.

Okada Manila: Ader - “Universal should let the property back”

What make out you puddle of what’s happened at the Okada Manila, with Kazuo Okada reassuming curb of the cassino from Universal Entertainment?

Ader: We’re watching things open at the casino very closely. Universal has just now hosted a rattling worthwhile press group discussion on what has happened. What I believe Kazuo Okada has through with(p) is totally illegal. It’s my rattling strong panorama that Universal should capture the holding back, and everything testament follow plunk for to normal soon.

What ut you relieve oneself of the Status Quo Ante Order (SQAO), which lawfully reinstated Okada as the Director & CEO of Okada Manila?

Ader: It’s my view that in that respect were some misrepresentations made to the [Supreme Court] by Kazuo Okada. Universal has 2 motions pending inward the Supreme Court, I is a clarification motion.

I cerebrate Okada and his radical experience really gone far beyond the Status Quo Ante Order, and what’s shocking is some of the videos beingness released. These include videos detailing violence against an elderly Nipponese man, violence against women...

This is something that the Philippine Government and PAGCOR should act on as the facts come in out. To me, these clips show rattling clear illegal behaviour performed by a grouping controlled by Kazuo Okada. To reiterate, it’s my eyeshot that Universal testament get the attribute dorsum and everything at Okada Manila testament be indorse to normal really soon.

How chop-chop tin Universal reassume control?

Ader: As soon as possible. We’re hopeful that it will [be soon]. Of course, I don’t experience for sure. There are 5,000 employees at this property. These people are what affair most. The casino itself is a very important plus for the industry. This has been the main focus, to piss trusted the employees of Okada Manila are safe and that the dimension is operating; and that customers are relieve having a positive experience.

Kazuo Okada: Casino’s young Board will “better serve” staff needs

However, the executive at the opposite destruction of the situation has also had his say. Despite numerous calls for Kazuo Okada to follow removed from the Okada Manila, he has reportedly told workers at the gambling casino that the Board will process to “better serve” stave needs.

In a critique of the casino's previous management, Okada claims his freshly prescribed Board will begin “elevating Okada capital of the Philippines to greater heights of success.”

“I think Okada and his aggroup make really gone far beyond the Status Quo Ante Order, and what’s shocking is some of the videos being released. These include videos detailing violence against an elderly Nipponese man, violence against women...” Jason Ader, CEO, SpringOwl Asset Management

These comments came via picture send for at a “town hall”-style event held in the casino, inwards which Okada addressed senior direction and other working faculty on 6 June 2022.

Okada was antecedently ousted from Okada Manila’s parent company, Universal Entertainment, resulting inwards the Nipponese mogul losing command of the casino and a situation of prominence at Universal.

Universal Entertainment has described Okada’s reclamation of the Philippines’ casino as a “violent takeover.” Okada has, of course, denied that any violent activeness took place.

Paradise Co posts calm casino revenue for May

South Korea’s foreigner-only cassino operator, Paradise Co, has posted relatively steady revenue at KRW17.09bn ($13.6m), despite a marginal month-on-month fall.

Figures for May were simply 0.8% take down than those posted inwards April, and were almost 26% higher year-on-year.

Specifically, table gamey revenue reached KRW14.93bn, spell expansion slot machine revenue totalled KRW2.16bn for May.

Although Paradise Co has picked upward some momentum inwards recent months, its rolling medium for the first quintuplet months of 2022 was land 9% year-on-year to KRW88.08bn.

Table bead rolling norm for the foremost quintuplet months of 2022 was also land by 11% to KRW604.57bn.

Jeju Dream Tower breaks sales record inwards May

South Korea’s Jeju Dream Tower has had its highest monthly sales execution of all time this May.

Information provided past the integrated resort’s (IR) parent company, Lotte Tour Development, shows sales for the IR’s hotel and retail divisions totalled KRW12.96bn for the month.

This was almost twofold 2021’s monthly ordinary of KRW6.9bn, and skint the previous monthly record readiness inward December 2021 when revenue reached KRW11.5bn.

Jeju Dream Tower first of all opened amid the Covid-19 pandemic, in Dec 2020. The accompany remains surefooted its recovery trajectory testament bear on to relocation upwards, as Covid measures go on to simplicity inwards South Korea.

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