Steve Wynn seeks to depose Okada in Las Vegas

June 19th, 20120 Comments »

There’s been yet another lawsuit filed in the Wynn vs. Okada saga.

After a 12 year friendly business relationship, the warm, fuzzy friendship and partnership  between Steve Wynn and Kazuo Okada has ended in a very bad and public way.

The result of these 2 combined mega forces and mega personalities was the creation of Wynn Resorts, with Mr. Okada eventually becoming the company’s biggest shareholder. Steve Wynn then dumped Mr. Okada from the board and forced a redemption of shares at a steep discount.

LAS VEGAS - OCTOBER 09:  Wynn Resorts Chairman...

Wynn Resorts Chairman CEO Steve Wynn

The mudslinging and allegations between both parties continue to fly.

On Monday, Wynn Resorts Ltd. asked a state court judge  to require that Okada appear for a deposition in Las Vegas and be questioned by Wynn attorneys.

“He accuses Stephen Wynn of wrongdoing and improprieties in the early years of Wynn Resorts’ existence, but provides no basis for his defamatory statements,” said a Monday court filing by the Wynn legal team in Clark County District Court.

Judge Elizabeth Gonzalez scheduled a June 28 hearing on the deposition motion. That same day both Wynn and Okada attorneys are scheduled to argue over whether Okada’s latest document demands are reasonable and relate to his role as a director of the company, which has gaming resorts in Las Vegas and Macau..

In a separate federal lawsuit pending in Nevada, Wynn Resorts and Okada both have sued each other stemming from Wynn Resorts actions removing Okada from the company and forcing a  redemption of Okada’s $2.7 billion stock in the company at a steep discount.

It is going to be an interesting battle between the former business partners  as they battle it out in court.  To see a video of Mr. Okada refuting the initial claims, please visit the Universal Japan website. You will need Windows Media Player to view the video.

« state extended jobless benefits ends for thousands
roulette wheel at the Rio was in diagnostic mode »

Categorized Under

Casino Industry News Steve Wynn Vegas News

Post tags

About Chellie Cervone

A Las Vegas "native" by way of New York, I'm a professional blogger who favors all things Las Vegas and offers a unique, witty and sometimes controversial perspective. You can count on me to tell it like it is. Please visit my other sites Las Vegas World News and Celebrity Feast Connect with me on Google+ Chellies World on Google+

» has written 106 posts

No Comments


Site Search

Custom Search

Sign up for our newsletter!

eSportsonline

Latest Industry News

NHL's Bettman: Sports betting can help grow league's audience

October 16th, 2019

Wynn announces management changes at Boston-area casino

October 16th, 2019

Hawaii resident hits for nearly $1 million on Madonna machine in downtown Las Vegas

October 9th, 2019

NHL, sportsbook operators happily married

October 16th, 2019

Christie explains backing legalized sports betting

October 16th, 2019

Wynn Resorts drops Osaka bid

October 16th, 2019
Sorry, the http://calvinayre.com/feed/ feed is not available at this time.

NHL's Bettman: Sports betting can help grow league's audience

October 16th, 2019

Is Major League Baseball in Southern Nevada's future?

October 16th, 2019

New station: Funding secured for Las Vegas Monorail expansion

October 10th, 2019

Updated: Reports (April 2019)

April 10th, 2019 skennedy

Updated: 5 Nevada Reports (December 2018)

February 1st, 2019 dschwartz

Updated: United States Sports Betting (December 2018)

February 1st, 2019 dschwartz
Sorry, the http://rss.courant.com/rss/topic/economy-business-finance/tourism-leisure-industry/casino-gambling-industry/T04050001.topic feed is not available at this time.
Jobs from Indeed