Let bygones be bygones: Wynn Resorts withdraws legal claims vs. Okada

Casino operator Wynn Resorts has finally decided to bury the old hatchet with Japanese gambling mogul Kazuo Okada, dropping all legal claims that it filed against the businessman.

The Wall Street Journal reported that Wynn Resorts declared before a Nevada court that it will no longer pursue the breach of fiduciary responsibility and other offenses claims it filed against Okada.

Okada, who initially invested $260 million when Wynn Resorts was still at its infancy, welcomed the legal developments in Nevada, saying that “the world knows what I have known all along—I am innocent.”

The public fallout between Okada and Steve Wynn stemmed from Okada’s decision to sue the Wynn Resorts founder for blocking access to financial documents related to a $135-million donation by Wynn Resorts to the University of Macau.