Wynn wins with a trio, Okada dismissed

 

Wynn reported three winning hands to its shareholders in the ongoing legal campaign against former partner Kazuo Okada. First, the Nevada Gaming Control Board concluded that the allegations made by Okada regarding the allegedly improper donation to the University of Macau by Wynn Macau Ltd., were unfounded. Second, the District Court of Nevada granted Wynn Resorts’ motion to dismiss Okdada’s derivative action against Wynn’s Board of Directors based on the Macau donation, by ruling that there was insufficient legal basis for the case to proceed. And finally, adding a cherry on top, proxy advisory firm Institutional Shareholder Services Inc. issued a report recommending that Wynn Resorts shareholders vote to remove Okada from the Board of Wynn Resorts at a special meeting of shareholders to be held on February 22.