Wynn Resorts Statement Regarding Court’s Dismissal of Okada’s Motion to
Enjoin Shareholder Meeting
LAS VEGAS -- February 15, 2013
Wynn Resorts, Limited (Nasdaq: WYNN) issued the following statement regarding
today’s decision by the U.S. District Court for the District of Nevada to
dismiss a motion filed by Kazuo Okada to enjoin the company’s Special Meeting
on February 22 at which shareholders will vote on a proposal to remove Mr.
Okada from the Board of Directors:
“We are gratified by the Court’s decision to dismiss Mr. Okada’s attempt to
block the Special Meeting to remove him from the Board and that our
shareholders will have the opportunity to vote on this important issue on
The Special Meeting will be held in the Montrachet Room at Wynn Las Vegas,
3131 Las Vegas Boulevard South, Las Vegas, Nevada, on February 22 at 9:00 a.m.
Mr. Okada was deemed unsuitable by the Wynn Resorts Board after a lengthy
investigation by former FBI Director Louis J. Freeh uncovered evidence of
improper conduct by Mr. Okada and affiliated entities under the Foreign
Corrupt Practices Act in connection with their dealings with Philippine
officials. If Mr. Okada is removed from the Wynn Resorts Board by a vote of
two-thirds of the shareholders, the Board will be reduced to eight directors,
including six independent directors.
About Wynn Resorts
Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the
ticker symbol WYNN and is part of the S&P 500 and NASDAQ-100 Indexes.
Our Las Vegas operations (Wynn Las Vegas and Encore) feature two luxury hotel
towers with a total of 4,750 spacious hotel rooms, suites and villas, an
approximately 186,000 square feet of casino space, 32 food and beverage
outlets featuring signature chefs, an on-site 18-hole golf course, meeting
space, an Ferrari and Maserati dealership, approximately 94,000 square feet of
retail space as well as two showrooms; three nightclubs and a beach club.
Our Macau resort is a resort destination casino located in the Macau Special
Administrative Region of the People's Republic of China with two luxury hotel
towers (Wynn Macau and Encore) with a total of 1,008 spacious rooms and
suites, approximately 265,000 square feet of casino space, casual and fine
dining in eight restaurants, approximately 54,600 square feet of retail space,
recreation and leisure facilities, including two health clubs and spas, a
Samanta Stewart, 702-770-7555
Sard Verbinnen & Co.
George Sard/Alexandra LaManna
Press spacebar to pause and continue. Press esc to stop.