Philippine gaming regulator denies receiving Okada ‘gifts’

While casino magnate Steve Wynn continues to pound away at his former friend and business partner Kazuo Okada, the head of gaming regulation in the Philippines, denies accusations he accepted bribes in the form of cash and gifts from the Japanese businessman.

Wynn set a conference call early Tuesday morning to further express his view, bolstered by an investigative report created by former FBI Director Louis Freeh, that Okada had violated U.S. anti-corruption laws. Wynn’s board of directors voted recently to give Okada the shove from the company in the form of a deeply discounted stock buyout.

But Bloomberg reports that Philippine Amusement Gaming Corp. Chief Executive Officer Cristino Naquiat Jr. denies the casino authority has received “cash or any in kind payments from Okada” in connection with a $2.3 billion casino development on the island.

"Based on records of Okada's group, the $110,000 represented various accommodations granted to Okada's business associates not only from the Philippines but from other countries as well from 2008 to 2011," Naguiat said in the statement.

Bloomberg: “The case won't affect Okada's Manila investment ‘right now,’ PAGCOR said in an e-mailed statement today. ‘We believe this issue is an intra-corporate battle between Mr. Kazuo Okada and Mr. Steve Wynn.’”

The clash of the gaming titans continues.