Deals
Okada’s Universal to Fight Wynn Forced Sale
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Japanese billionaire Kazuo Okada’s Universal Entertainment Corp. said it will take legal action after Wynn Resorts Ltd. forcibly redeemed Universal’s stake at a 31 percent discount and accused Okada of improper payments.
Universal, which plunged in Tokyo trading, will “take all legal actions necessary to protect its investment in Wynn,” the pachinko machine maker said today in a statement. The company didn’t specify any legal remedies.