• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Tokyo high court dismisses defamation suit against Wynn

Jun 27, 2014 Newsdesk Japan, Latest News, Top of the deck  


Tokyo high court dismisses defamation suit against Wynn

Tokyo’s high court (pictured) has rejected Japanese billionaire Kazuo Okada’s appeal against a lower court’s dismissal of a defamation lawsuit he filed versus U.S. casino operator Wynn Resorts Ltd. The judgement reiterated that the case should not be handled by a Japanese court.

The case relates to a press release issued by Wynn Resorts in early 2012 alleging business misconduct by Mr Okada in the Philippines and South Korea.

Later in 2012, Mr Okada, and two of his companies, including pachinko maker Universal Entertainment Corp, jointly filed a lawsuit seeking damages against Wynn Resorts and some of its top executives. That case however was dismissed by Tokyo’s district court in October last year. Mr Okada had sought JPY11.2 billion (US$111 million) in damages.

The high court has now confirmed the decision made in the lower court, Universal said in a regulatory filing on Friday. The high court turned down the Okada camp’s appeal against dismissal, saying the legal fight between Mr Okada and Wynn Resorts is based in the United States.

“It is extremely regrettable that the same decision was reached as in the first instance,” Universal said in the statement, adding that is has filed a final appeal and a petition for acceptance of the case by Japan’s supreme court.

Mr Okada was ejected as a shareholder of Wynn Resorts and as a board member of Wynn Macau Ltd in February 2012. His near 20-percent stake in the casino developer was cancelled at a 30 percent discount to the then market price.

The suit is one of several legal battles between Mr Okada and his former business partner Wynn Resorts chief executive Steve Wynn.

Mr Okada and some of his companies are under investigation in the United States and the Philippines for potential violations of anti-bribery laws in relation to the under-construction US$2 billion Manila Bay Resorts casino property in the Philippines. Mr Okada has denied any wrongdoing.


  • tweet
Related articles
  • Wynn CEO Maddox among 3 execs in 20pct base pay cut 1Q
    Wynn CEO Maddox among 3 execs in 20pct...

    Jan 07, 2021  

  • Wynn Macau Ltd positive Oct EBITDA, VIP shrinking: Maddox
    Wynn Macau Ltd positive Oct EBITDA, VIP...

    Nov 06, 2020  

More news
  • Digital yuan eventually for Macau mass bets mulls Bernstein
    Digital yuan eventually for Macau mass...

    Jan 22, 2021  

  • Macau Covid-19 case no bar to mainland travel ties
    Macau Covid-19 case no bar to mainland...

    Jan 22, 2021  


Latest News

Digital yuan eventually for Macau mass bets mulls Bernstein

Digital yuan eventually for Macau mass bets mulls Bernstein

Jan 22, 2021  

Were China’s central government-backed digital yuan (CNY) to be adopted in Macau for casino chip transactions, it could in the long run benefit mass and premium-mass play, as cross-border money...
Read More
Macau Covid-19 case no bar to mainland travel ties

Macau Covid-19 case no bar to mainland travel ties

Jan 22, 2021  

Mohegan seeks govt nod to delay Inspire opening

Mohegan seeks govt nod to delay Inspire opening

Jan 22, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The entire company is eagerly anticipating the launch of our newest themed destination – The Londoner Macao"

Wilfred Wong Ying Wai

President of Macau-based casino operator Sands China



Most Popular

  • Sands China sixth Macau op to pledge staff extra paymentSands China sixth Macau op to pledge staff extra payment January 21, 2021
  • Londoner Macao first phase launch Feb 8 says Sands ChinaLondoner Macao first phase launch Feb 8 says Sands China January 21, 2021
  • Wynn and Melco also flag bonus for Macau staffWynn and Melco also flag bonus for Macau staff January 19, 2021
  • Investors see 2H Macau gain, rebound 2022: BernsteinInvestors see 2H Macau gain, rebound 2022: Bernstein January 19, 2021
  • Melco likely to take on more debt for expansion: Moody’sMelco likely to take on more debt for expansion: Moody’s January 20, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us