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 month 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. A forfeiture judgement was the largest unsecured claim when the bankruptcy was filed. However, there were a few other claims of $1.6 million and less. Other details were available immediately. 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.
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. The content they create is unique, cutting-edge, high quality, and modern. It also contains the latest 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.
Roll To Win Craps is one of the company’s most popular games.
The business was founded in 1983, 40 years ago. It seems that the number 40 is its number, since it has expanded into about 40 countries around the world. Aruze has licenses in over 200 regulated countries, and their content solutions and themed slot games have been successful everywhere. The company’s vast network of partners contributes to its value and makes it one of the world’s best.