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ISSUE 96 - Apr 2012
 
 
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2012?
Decline
Growth above 20 percent
Growth from 10 to 20 percent
Stagnation
 
 

Wynn asks court to dismiss Okada’s request


Posted: 1/31/2012 4:12:09 PM
Rating:     0% ( votes)
  

Wynn Resorts Ltd. is seeking to have long time business associate and the biggest shareholder of Wynn Resorts, Kazuo Okada’s lawsuit dismissed.

In a court filing, the company says Mr Okada’s allegation that he was denied access to the company’s financial books is “innuendo, hyperbole, half-truths and sweeping generalizations.”

According to Wynn, Mr Okada “has failed to justify the request.”

The company says Mr Okada’s request to access the company’s books are nothing more than stockholder inspection requests.

Wynn Resorts adds that, under Nevada law, shareholders have no rights to inspect the books “of publicly-owned companies that are timely with SEC filings (as Wynn is).”

Wynn Resorts says that to try to get around this problem, Mr Okada had presented his request as a director rather than a shareholder, a “maneuver” the company expects to be “flatly rejected by the court”.



Other Macau Latest News

Edward Tracy hopes for more imported labour

Sands China’s CEO says some relaxation will go ahead as more casino resorts open

G2E Asia kicks off

Asia's largest gaming expo opens at the Venetian Macao

Suspected fraudulent SJM website

The company says it has already reported the issue to authorities

Possible delays

A legislator says the casino age entry bill could fail to meet the July deadline
Headlines

Sands China leads Cotai walk-in mass market

The gaming operator’s properties account for almost two thirds of walk-in visitors, says Union Gaming

Final review on rules for smoking areas inside casinos

Casinos will have to divide their floor into smoking and non-smoking areas starting next year

Homes more expensive

The average transaction price of all residential units sold in the first three months of 2012 reaches a new all-time high

Sands China renews Edward Tracy’s contract

The company’s president and CEO has had his contract extended until August next year

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