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Wynn Resorts Statement Regarding Court's Dismissal of Okada's Motion to Enjoin Shareholder Meeting

Friday, February 15, 2013 5:59 PM


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 February 22.”

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. local time.

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 pool.

(Source: Business Wire )
(Source: Quotemedia)

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