Wynn wants university donation lawsuit tossed

TAGs: Casino News, Kazuo Okada, Steve Wynn, university of macau, Wynn Resorts

steve-wynn-pagcorThe year-long case involving Steve Wynn’s alleged $135 million donation made to the University of Macau is still unresolved.

And the American casino mogul seems to have gotten tired of it as he and other Wynn Resorts Ltd directors have asked a federal judge in the US to formally dismiss an amended lawsuit over the company‚Äôs donation to the said university citing that the lawsuit remained “fatally defective”.

If you’re just joining us, the investigation surrounding Wynn’s donation to the University served as the straw that broke the relationship between Wynn and his one-time partner, Universal Entertainment’s Kazuo Okada. It was the latter who demanded an investigation into the former’s donation of $135 million to the University, prompting Wynn to forcibly take back Okada’s majority share in the company. That, of course, led to the ugly battle between the former amigos that involved more twists and turns than a swirly straw.

Last February, Okada took the surprising step of resigning from the Wynn board hours before the latter was scheduled to vote him out. But even with that fight apparently settled, the continuing fight between the two parties is far from settled.

For now, Wynn Resorts is looking to have the lawsuit stemming from those University of Macau donations dismissed. In a recent filing in federal court in Las Vegas last week, Wynn Resorts said said that the allegations from the amended lawsuit by investors led by a Lousianna police retirement fund was “completely conclusory”.

It certainly appears that while the squabble between Wynn and Okada continues to drag on, we’re all seeing both parties continue to clean themselves up from accusations made by the other.


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