Destination & Tourism
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.”
Wynn Resorts, Limited intends to file a proxy statement with the U.S. Securities and Exchange Commission (SEC) in connection with any such solicitation of proxies from Wynn Resorts, Limited shareholders. Wynn Resorts, Limited is encouraging its shareholders to read any such proxy statement and accompanying proxy card when they become available, as they will contain important information regarding the ownership of Wynn Resorts, Limited directors and executive officers in Wynn Resorts, Limited stock, restricted stock and options is included in their SEC filings on Forms 3, 4 and 5, which can be found at the Wynn Resorts, Limited website in the section “SEC Filings.”
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