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Wynn Resorts asks Nevada Supreme Court to overturn Okada orders
February 7, 2017

CARSON CITY — An attorney for Wynn Resorts Ltd. asked the Nevada Supreme Court on Monday to overturn two district court orders compelling the gaming company to turn over documents to Japanese billionaire Kazuo Okada in a long-running legal dispute over his ouster as a majority shareholder.

The information was used by the Wynn board of directors in February 2012 to determine that Okada and his related companies were unsuitable parties that could jeopardize Wynn Resorts gaming licenses.

The board voted to redeem all of the outstanding shares of Wynn Resorts stock held by Okada in exchange for a promissory note with a principal value of approximately $1.9 billion.

In the two combined cases heard in oral arguments in the capital, Wynn’s attorney said that Clark County District Judge Elizabeth Gonzalez erred when she required that some information used by the board in its decision be turned over to Okada, Aruze USA Inc. and its parent corporation, Universal Entertainment Corp., known as the Okada Parties.



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