Asia round-up: Chan finally charged; Tiger Resorts sends Okada ‘demands’ & more

Home » Asia round-up: Chan finally charged; Tiger Resorts sends Okada ‘demands’ & more

Macau’s Public Prosecutions Office has charged former junket boss Levo Chan.
Levo Chan, the former CEO of the junket Tak Chun Group, has been formally charged by Macau’s Public Prosecution Office.
According to reports, Chan faces up to 20 years in prison if convicted.
He was arrested in January by local police and has been held at Coloane Prison since.

The former junket boss was charged with being part of a criminal organization, facilitating illegal gambling both online and offline, and money laundering.

The Public Prosecution Office in Macau has now completed its investigation into Chan’s case and filed an indictment against him. Nine people were arrested in total, but Chan was the only one detained.

Macau’s police confirmed earlier this year that Chan’s arrest was directly related to the prosecution of ex-Suncity boss Alvin Chau.

In particular, Chau’s case sparked widespread condemnation of junkets and their future role in Macau. Suncity shut down its Macau-based junket business in December and is considering a move into casino operations.

Tiger Resorts Asia sends a demand letter to Kazuo Okada regarding cage funds disbursed.

Tiger Resorts Asia (TRAL), which owns 99 percent of Tiger Resorts, Leisure and Entertainment (TRLEI), the operator of the Okada Manila casino, has sent Kazuo Okada a demand letter requesting an inspection of the casino’s internal documents.

This comes after reports of unauthorized fund disbursements from the resorts’ casino cage surfaced.

“You are hereby reminded that inspection of corporate documents is a right of a shareholder, and you are sternly warned that denial of such right constitutes a crime under the Revised Corporation Code.” Tiger Resorts Asia has sent a demand letter to Kazuo Okada.

Okada currently occupies Okada Manila. On May 31, 2022, he stormed the resort, reclaiming the casino in a long-running dispute with TRAL and TRLEI after they removed him from the TRLEI board in 2017.

Following the receipt of a Status Quo Ante Order from a Philippine court, which determined that TRLEI should restore the structure of its board prior to Okada’s departure, the Japanese mogul took control of the casino by force, replacing TRLEI board members with members of his own entourage.

This is the latest twist in Okada and TRAL’s long-running feud. As 99 percent shareholders, TRAL and its partners, Universal Entertainment, are attempting to reclaim the casino from Okada.

At this point, Okada appears unlikely to allow TRAL representatives anywhere near the Okada Manila.

Progress has been made in the Philippines gaming framework.

According to the Asia Pacific Group on Money Laundering, the Philippines has made progress in updating its gambling regulatory framework (APG).

For a long time, the country was considered a regulatory grey zone, but it is making strides to become a more regulated market.

The organization had noted that companies operating under Philippine Amusement Gaming Corporation (PAGCOR) licenses only have suitability procedures in place for boards of directors, not shareholders or beneficial owners.

Furthermore, APG claimed that the Philippines had a minimal framework in place for land-based casinos overseen by the Cagayan Economic Zone Authority and the Aurora Pacific Economic Zone and Freeport Authority.

Furthermore, there were concerns about real estate agents who handled the sale and oversight of casino properties but were not subject to anti-money laundering or counter-terrorism financing checks.

However, these areas of concern are now progressing as the Philippines seeks to strengthen its position as a regulated, lawful gaming market.

Michael Owen has been appointed as Maxim88’s Asia Brand Ambassador.

Maxim88 has signed a two-year contract with former Liverpool and Manchester United footballer Michael Owen, who will serve as the brand’s official ambassador in Asia.

Outlast Sports Entertainment arranged the ambassadorship for Maxim88.

Have you missed a major gambling industry story in Asia? Don’t worry, we’ve got you covered with our Asia round-up.

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