Billionaire founder fights back for control of Japan’s Universal


Billionaire founder fights back for control of Japan's UniversalTOKYO/NEW YORK (Reuters) – Nearly three months after his ouster from the board at Universal Entertainment Corp, billionaire Kazuo Okada is fighting back to try to regain control of the $2.2 billion Japanese gaming group. At a news conference in Tokyo on Thursday, Okada is expected to say he has reinstalled himself as director of Okada Holdings Ltd, the Hong Kong parent of Universal, according to a person close to the 74-year old tycoon. Winning back the gaming empire he founded five decades ago is just the latest challenge Okada faces in a chequered career.He is locked in a legal battle with former associate Steve Wynn, and has been subject to a slew of tax, gaming and law enforcement probes, including those related to a $2.4 billion casino in the Philippines.

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