Universal Entertainment Corporation’s Views on the Special Meeting of Shareholders Held by Wynn Resorts, Limited

  Universal Entertainment Corporation’s Views on the Special Meeting of
  Shareholders Held by Wynn Resorts, Limited

Business Wire

TOKYO -- February 22, 2013

Universal Entertainment Corporation today announced that Kazuo Okada, Chairman
and Director of our Company, has resigned from his position as director of
Wynn Resorts, Limited (NASDAQ:WYNN, hereinafter, “Wynn Resorts”).
Nevertheless, Wynn Resorts has announced that it will still be holding its
special meeting of shareholders on February 22^nd (local time) as planned.

Given that the sole purpose of Wynn Resorts’ special meeting of shareholders
was to vote on the proposal to remove Mr. Okada from the board, the need for
such vote has been obviated with Mr. Okada resigning ahead of the meeting.
Thus, it is absolutely unnecessary to hold this shareholders’ meeting.

This special meeting of shareholders has no purpose and no ability to move the
business of Wynn Resorts forward. We believe that burdening the company and
its shareholders with the expense of this meeting also raises questions in
terms of its legality. Thus, we regard this as simply the latest misguided
step in Mr. Wynn’s retaliatory campaign to attack and discredit Mr. Okada.

Wasting unnecessary expenses to hold this pointless special meeting of
shareholders only serves to satisfy Mr. Wynn’s own interests and is against
the interests of the shareholders. We deeply regret that Wynn Resorts elected
to proceed with the wasteful charade of holding this special meeting of
shareholders.

Contact:

MEDIA CONTACTS:
Universal Entertainment Corporation (JASDAQ Code: 6425)
Contact:
PR&IR OFFICE
Nobuyuki Horiuchi
Assistant General Manager
Email address: ir@universal-777.com
Ariake Frontier Bldg, A, 3-7-26 Ariake
koto-ku, Tokyo, 135-0063 JAPAN
TEL: +81-3-5530-3055 (switchboard)
 
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