It was recently unveiled that Aruze Gaming America, a Las Vegas-based casino equipment manufacturer, is set to close its Las Vegas head office next month and discharge 100 employees, according to a report filed with the state.
Reasons for the decision:
The decision came six months after the firm filed for Chapter 11 bankruptcy protection. During that time, the firm said: “The filing was part of our efforts to restructure financially because of external factors outside (our) control.”? In addition, it cited a “garnishment judgment against Aruze resulting from a separate judgment against Aruze’s shareholder.”
The aforementioned garnishment judgement, handed down in January, relates to a $27.4 million debt owed to Bartlit Beck LLP, a law company that has offices in Chicago and Denver that personally represented Kazuo Okada in a years-long lawsuit against Steve Wynn that resulted in a settlement in 2018 for $2.6 billion with Universal Entertainment Corp., which was established by Okada, the sole shareholder of the company and previous investor of Wynn Resorts. In addition, the forfeiture judgment comes from few court rulings that say that “Okada hadn’t paid a $50 million success fee to the law firm, court documents show.” Therefore, the judgment ruled that “Barlit Beck could collect on the company’s loans owed to Okada.”
“Aruze has other secured creditors, involving bank loans worth approximately $20.8 million,” according to bankruptcy court filings. The biggest unsecured claim at that time of the bankruptcy filing was a forfeiture judgment, although few other claims for $1.6 million or less were also listed.
The closure will come into effect soon:
The closure is set to come into force starting August 18, according to the required notice to the Nevada Department of Employment, Training and Rehabilitation. Several other details were immediately accessible. However, representatives of the company did not provide an answer to extra questions about the closing by the time of publication.
Aruze’s US head office is located in a business park with warehouse space on Decatur Boulevard close to the 215 Beltway. But it’s not known what kind of company’s operations are going on there.
About:
Gambling entertainment solutions?created in the?Aruze Gaming?chambers?are really something else – the company is one of?the best in the whole world, and the way they design, develop, and craft their content is recognized across many markets. Their content is?cutting-edge, high-quality, modern, and unique, containing?up-to-date technologies and designs. Developers prepare the content with?the player?in mind, working on ensuring?the best possible gaming experience.
The company’s solutions tend to be?fun, quality, and unique?–?table games?combine well-known and loved traditional games and modern twists that?increase the excitement?while playing. One of the most popular games is?Roll to Win Craps.
The company was founded?40 years ago, back in?1983. The number 40 seems to be its number since it expanded to?about 40 countries?worldwide. Aruze possesses licenses for?over 200 regulated markets, and its content solutions and cutting-edge themed slot games are successful in all of them.?The vast network of partners?adds to the value, making the company one of?the best in the whole world.