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Legal Wrangling Continues as Wynn Resorts Says it's
Eager to Fight Okada's Counterclaim

By Steve Green, Las Vegas SunMcClatchy-Tribune Regional News

March 13, 2012--Casino-resort owner Wynn Resorts Ltd. of Las Vegas on Tuesday criticized as "scurrilous" the counterclaim filed against the company Monday by board member Kazuo Okada and his companies.

Attorneys for Okada, Aruze USA Inc. and Universal Entertainment filed the 56-page counterclaim in U.S. District Court for Nevada.

The counterclaim says Wynn Resorts has no authority to redeem Okada's $2.7 billion in Wynn stock at a discount and is critical of Wynn Resorts CEO Steve Wynn.

The counterclaim also disputes allegations -- aired during a conference call last month by Wynn board member and former Nevada Gov. Robert Miller -- that Okada is unsuitable to be a Wynn shareholder, because he improperly provided gifts and cash to Filipino gaming regulators.

Those charges were developed during an investigation of Okada by former FBI director Louis Freeh's company, which submitted what is known as the Freeh Report.

"Despite its enormous length and scurrilous allegations, the Okada response fails to contain any meaningful denial of the facts detailed in the Freeh Report or Gov. Miller's conference call on Feb. 21, 2012. Wynn Resorts looks forward to having Mr. Okada's actions and the company's response presented to and adjudicated in court," Wynn Resorts said in Tuesday's statement.


(c)2012 the Las Vegas Sun (Las Vegas, Nev.)

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