Universal Entertainment Comments on Certain Media Coverage
TOKYO, Dec. 4, 2012 (GLOBE NEWSWIRE) -- This is our company's position
regarding an article run by Reuters on November 16th and 30th of this year.
Reuters has repeatedly reported a story that this company has been involved in
illicit money dealings with our Philippine business. Their stories contain
misrecognition of facts and biases that could have been easily avoided had
Reuters engaged in fair and appropriate reporting. Reuters has reported that
our corporate group has given the massive sum of US $40 million to the
government and other related institutions between December 2009 and May 2010
in our Philippines' business. This is a clear misrecognition of the facts.
The facts surrounding this company's Philippines' business have already been
reported to the Nevada Gaming Authorities through the company's own Compliance
Committee. Further, when we believe that there is a problem involving former
employees of our company, we launch litigation and carry out the appropriate
measures at the appropriate time.
Up to this point, Reuters has been fed information unfavourable to our company
by the litigants involved in legal disputes with us, including Wynn Resorts.
Reuters has not made any reference to the information related to this case,
and has, instead, created doubts about our company on an issue that has never
been a problem. Reuters has intentionally manufactured information unfavorable
to us without so much as confirming the facts or questioning appropriate
persons involved. This favoritism has certainly adversely affected Reuters'
long-built standing as a news organization.
Reuters made an investigative inquiry to our company, but the time limit they
allotted for a response was extremely short. There was no consideration given
to the circumstances surrounding this case—it involves multiple law suits
across multiple countries involving many people, as well as confidential
information according to the laws, treaties and contracts across multiple
countries—and what would be required for us to give an accurate and
appropriate response. This investigative inquiry gave us no chance to defend
ourselves, and was simply empty journalism with a facade of impartiality.
As we've said above, Reuters' reporting completely ignores the facts. Our
corporate group is certain that the facts of this case will be brought to
light in the near future.
Reuters' reporting is full of malice and our company firmly objects to this.
We believe that Reuters should be fully held to account legally for the damage
brought about through their biased reporting, and we are exploring the
possibility of taking legal actions against them.
CONTACT: MEDIA CONTACTS:
Universal Entertainment Corporation (JASDAQ Code: 6425)
PR&IR OFFICE Nobuyuki Horiuchi, Assistant General Manager
Ariake Frontier Bldg,A,3-7-26 Ariake,koto-ku,Tokyo,135-0063 JAPAN
TEL: +81-3-5530-3055 (switchboard)
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