Casino operator Universal Entertainment Corp. will acquire manufacturing licenses in the United States for the equipment and devices it uses for its casino operations.
UEC, a publicly-listed company in Japan, owns Tiger Resort Asia Limited in Hong Kong, which fully owns Tiger Resorts Leisure and Entertainment Inc. owner and operator of Okada Manila.
UEC said plans are now underway for the company through its US subsidiary, UE Technologies Inc., to engage in the full-fledged manufacture and sale of equipment and gadgets such Player Tracking Systems, multi-currency bill validators, and fully automated casino tables and machines, among others that the company uses in the operation of its casinos all over the world.
UEC will also continue to maintain its certificate of suitability which they have acquired previously to invest in casino operating company in US.
The firm said that securing a manufacturing license will protect the company from being affected should a shareholder or an officer of the company become the subject of an investigation and later on determined to be an unsuitable individual.
UEC noted that casino-related business all over the world are strictly regulated so that its officers and shareholders must always comply with the suitability requirement.
“So much so that before being given a license to operate, members of the management and shareholders are required to undergo strict screenings on sustainability conducted by the gaming commission serving as the regulatory authorities,” it said.
In cases where unsuitable individuals are later on found to be present among management or shareholders, the company will not be given any license to operate or the license earlier secured will be invalidated.
“Casino-related businesses are prone to hosting ties to anti-social forces, such as involvement in money laundering. For that reason, operators of those businesses are strictly regulated in countries around the world, and the US is no exception,” UEC said.
It added that through those actions, even unsuitable individual. or the person who acts in accordance with the unsuitable individual’s instructions assume the post of Director at the Company or its parent, the Casino Business-Related Companies will not be affected by the unsuitable individuals, etc., and their preparedness for executing business will be secured.
As such, the Company group will apply to gaming regulatory authorities in its countries of operation to have such individuals excluded from suitability screenings, the results of which will enable the Company group to stably operate its casino-related businesses even by applicable laws and ordinances in countries around the world, it added.
“Given that, as part of preparations to secure that even if a shareholder of the Company’s parent who has been cited as violating governance and compliance (this individual is already the subject of an investigation by the Nevada Gaming Commission) assumes the post of Director at the Company or its parent, its subsidiaries that operate casino-related businesses (Tiger Resort Asia Limited, Aruze USA, Inc. and UE Technologies, Inc.; hereinafter collectively referred to as “Casino Business-Related Companies”) will be able to conduct their businesses not being affected by said individual, the Company will conduct an intra-group organizational realignment for the purpose of turning the Casino Business-Related Companies into sub-subsidiaries of the Company,” UEC noted.
