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Home News Gambling News Japanese Casino Tycoon Gets California Gaming License

Japanese Casino Tycoon Gets California Gaming License

Kazuo Okada, locked in a legal battle with Wynn Resorts International and the subject of a federal bribery investigation, said on Wednesday his wholly-owned Aruze Gaming America obtained a California gaming license and this shows he’s appropriate to conduct enterprise within the casino sector.

“I am pleased the California Gambling Manage Commission (CGCC) granted a Gaming Resource Supplier license to Aruze and its principals,” said Okada, noting he has obtained licenses in 18 new jurisdictions and several license renewals due to the fact Wynn brought a suit against him in February 2012. Wynn claimed Okada engaged in improper conduct with money payments and gifts to Filipino gaming authorities.

Altogether, the corporation, which gives electronic gaming machines, has about 150 gaming licenses, such as a number of tribal licenses in numerous states.

“Each of those new licenses and renewals has been determined by a determination that I am ‘suitable,'” Okada mentioned within a statement.

Okada’s Aruze Gaming America is privately held and separate from Aruze USA, that is wholly owned by Okada’s Universal Entertainment Corp, and was Wynn’s biggest shareholder till February 2012 when the board forcibly redeemed its 19.75 % stake at a 30 % discount.

The new California license is furthermore to 43 California tribal licenses Aruze Gaming currently holds. California requires that operators whose revenues prime $25,000 inside the state will have to submit an application to get a state license.

Wynn Resorts declined comment on Okada’s announcement.

Last week, U.S. authorities publicly acknowledged there was a criminal investigation of Okada, Universal Entertainment and Aruze USA, for achievable violations of your Foreign Corrupt Practices Act (FCPA), an anti-bribery statute dating for the 1970s.

Tina Littleton, executive director for the California Gambling Manage Commision, said it’s going to continue to monitor the U.S. Department of Justice investigation.

“The pending investigation was a concern, but the commission eventually unanimously decided to situation Aruze and Okada a two-year discovering of suitability using the directive to keep the commission apprised with the investigation,” stated Littleton.

“If there is any locating of criminal activity, a revocation or other action could take spot.”

Okada and his businesses are becoming investigated for prospective violations of anti-bribery laws relating to a $2 billion casino project in the Philippines, according to a current court filing.

U.S. federal prosecutors have sought permission to intervene within a lawsuit by Wynn against Okada to prevent disrupting an ongoing criminal probe in to the bribery allegations.

Universal mentioned in December it filed a defamation suit against Reuters in Tokyo for its reporting around the payments. Reuters has mentioned it stands by its reporting.

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