Kazuo Okada

Japanese billionaire businessman

Kazuo Okada (岡田 和生, Okada Kazuo; born 3 October 1942) is a Japanese billionaire businessman and art collector.2

From Wikipedia’s article on Kazuo Okada (this version), CC BY-SA 4.0.

Born 1942.1

About

Okada was formerly an executive at Wynn Resorts, and co-founder and former chairman of the Universal Entertainment Corporation, until his ousting in 2017 after allegations of financial mismanagement.

From Wikipedia’s article on Kazuo Okada, shared under CC BY-SA 4.0.2

Companies

Early life and education

Kazuo Okada was born in 1942. Having lost his father at a young age, he became independent and supported his family. He studied at an engineering vocational school to take advantage of his interest and passion for mechanics. In an interview with the Financial Times, Okada claimed that "vacuum tubes are so much fun."

From Wikipedia’s article on Kazuo Okada (this version), CC BY-SA 4.0.

Career

Occupation: businessperson.4

In 1969, Okada founded Universal Lease, which manufactured coin-operated arcade games for children. In late 1969, Okada's first visit to Las Vegas led to his decision to enter the business of slot machine manufacturing. He invented the "near-miss" feature in his slot machines, an innovation that helped expand the Japanese market of "pachislot" (a hybrid of Japan’s pachinko and Las Vegas slot machines) and also made Okada's slot machines popular in Las Vegas.

Throughout the 1990s, Universal served as a major supplier of machines to the bustling Japanese pachinko industry. In 2000 Okada was introduced to Las Vegas-based casino magnate Steve Wynn, eventually investing $380 million in Wynn’s then-new company, Wynn Resorts. Wynn Resorts opened its first casino in 2005 in Las Vegas and a second one in 2006 in Macau. In 2008, Steve Wynn declined to join Okada in a major investment to build a casino in Entertainment City in Manila. Okada proceeded alone with the investment, forming a local company, Tiger Resort, Leisure and Entertainment, Inc., to handle the development of the Manila property. In July 2016, the property was unveiled as the Okada Manila, a $2.4 billion integrated hotel, resort and casino that represents Okada’s biggest investment to date.

From Wikipedia’s article on Kazuo Okada (this version), CC BY-SA 4.0.

Personal life

  • Born1942, Osaka5
  • CitizenshipJapan6
  • ResidenceHong Kong7
  • Children38

Okada is married, with three children, and resides in Tokyo.

From Wikipedia’s article on Kazuo Okada (this version), CC BY-SA 4.0.