Last updated: 04:59 PM ET, Tue March 18 2014

Wynn Resorts Responds to Okada’s Letter to Shareholders

Hotel & Resort | Mimi Kmet | September 19, 2012

Wynn Resorts Responds to Okada’s Letter to Shareholders

Wynn Resorts, Limited issued the following statement in response to the letter to shareholders issued on Monday by Kazuo Okada, Aruze USA, Inc. and Universal Entertainment Corp.: “Aruze has not been a stockholder of Wynn Resorts, Limited since Feb. 18, 2012, when its shares were redeemed by the Wynn board after a lengthy, third-party investigation uncovered prima facie evidence of improper conduct under the Foreign Corrupt Practices Act by Mr. Okada, Universal Entertainment and Aruze in their dealings with Philippine officials. This most recent filing is a regrettable attempt to divert attention from the issues facing Mr. Okada and Aruze. Given the fact that Aruze was ejected seven months ago as a Wynn shareholder based on conduct unacceptable for a gaming licensee, it has absolutely no rights as a shareholder to nominate directors and its invalid nominations have been rejected on this basis.”

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