Okada Manila has initiated Chapter 11 proceedings in a US court. This action follows an unfavorable Nevada court decision in a lawsuit concerning Okada Manila’s parent entity, Universal Entertainment.
The firm maintains this is a calculated move to revamp its financial structure and that its daily business activities will proceed without interruption. They are utilizing Chapter 11 bankruptcy protection to restructure and alleviate the apprehensions of their debtors, patrons, and personnel.
Chief Executive Takahiro Usui recognized the effects of this choice but contends it is the optimal path to sustain the enterprise. He stressed that this measure is not indicative of Okada Manila’s overall well-being, underscoring their satisfaction in the brand’s accomplishments. Usui conveyed optimism that this procedure will ultimately transform Okada Manila into a more robust corporation.
This development emerges merely a month following Okada Manila’s declaration of its inaugural European branch opening, indicating its worldwide aspirations.
To enhance service for its expanding clientele in Europe, the Middle East, and North Africa, Aruze Gaming America has opened a new sales and assistance location in Europe. This calculated action follows speculation regarding the U.S.-based company initiating bankruptcy proceedings, which Aruze has refuted.
It is noteworthy that Aruze secured an agreement with BetMGM in January 2022 and introduced four of its well-received slot games on BetMGM’s platform in New Jersey.
admin