Casino operator Wynn Resorts is dismissing suggestions that its long-running highly public legal squabble with Kazuo Okada could jeopardize Wynn’s pursuit of a Japanese casino license.
This week, Morningstar analysts suggested that the five-year legal battle between Wynn and Okada, founder of Japanese gaming operator Universal Entertainment Corp, could spell trouble when Japan’s regulators finally get around to awarding the country’s first integrated resort licenses.
The suggestion is that Wynn’s 2012 forcible redemption of Okada’s significant holdings in Wynn stock and allegations of corruption surrounding Okada’s Philippine gaming operations might not sit well with Japanese regulators. Universal is one of Japan’s major pachinko operators, with subsidiaries that run casinos and manufacture gaming devices.
Wynn’s marketing maven Michael Weaver dismissed these concerns, telling the Las Vegas Review-Journal that the company remains skeptical that the Okada brouhaha “will be a factor at all.”