Casino mogul Steve Wynn may have saved himself some litigation time after Wynn Resorts reached a settlement with Leighton Contractors (Asia) over the disputed Wynn Palace Macau luxury resort project but he sure have lots of explaining to do to his investors

Wynn will shell out US$121 million in fees to pay Leighton Contractors (Asia) while associated companies of the casino operator are expected to pay US$200 million to the construction firm.

In a filing to the Australian Securities Exchange, construction and engineering contractor CIMIC Group Ltd. announced that its subsidiary Leighton and Wynn Resorts amicably resolved their claims and cross claims against each other about the hotel.

It would be recalled that Wynn had earlier accused Leighton of failing to deliver the property on time under a guaranteed price arrangement the sides made.