Wynn Resorts retracts some accusations in lawsuit, Okada says

Wynn Resorts Ltd., the gaming company controlled by Steve Wynn, retracted some accusations made in a lawsuit against his former business partner, Kazuo Okada, according to a statement released Wednesday by Okada.

Okada said Wynn Resorts asked a Nevada judge for permission to amend the lawsuit, removing allegations he and his companies, Universal Entertainment Corp. and Aruze USA Inc., misappropriated trade secrets.

“Wynn Resorts also now admits that it was aware of Mr. Okada’s pursuit of a casino project in the Philippines long before 2011, contradicting Wynn Resorts’ original complaint filed on Feb. 19, 2012,” Okada said.

In its amended complaint, Wynn Resorts told the judge it would drop the allegations because of the judge’s concern about their validity, changing the focus to Okada’s conduct in the Philippines and the time it took for Wynn Resorts to learn about it.

The proposed compliant “contains detailed allegations that explain why Mr. Okada’s wrongdoing in the Philippines — and the threat that such misconduct posed to the company’s existing and potential future gaming licensees — did not begin to come to the attention of Wynn Resorts until mid-2010.”

The amended complaint was filed Feb. 27 in Clark County District Court in Las Vegas.

Okada, Universal Entertainment’s chairman, continues to fight to recover his 20 percent stake in Wynn Resorts.

The company seized the stake last year at a 30 percent discount, giving the Japanese billionaire a 10-year promissory note valued at $1.9 million.

Okada, 70, had questioned a $135 million donation the company made to the University of Macau. Wynn Resorts accused Okada acted improperly with Philippines gaming officials in violation of the U.S. Foreign Corrupt Practices Act, allegations Okada denies.

Okada also said Wednesday that gaming officials in California reaffirmed its “finding of suitability” for Las Vegas-based Aruze Gaming America Inc. The California Gambling Control Commission is expected to make a final decision on its license next month, he said.

“Since Feb. 18, 2012, after Wynn Resorts Ltd. brought suit against me in Nevada … I have received new gaming licenses in 17 jurisdictions where Aruze Gaming was not previously licensed, including Arkansas, Ontario, Canada and 15 American Indian tribes,” Okada said in a statement.

“Also since that time, (Aruze Gaming America) has obtained renewal approval for five state licenses in Arkansas; Alberta, Canada; Florida; Mississippi; and Oklahoma.

Aruze Gaming America holds 43 licenses with tribes that operate casinos in California.

Okada said each of the new licenses and renewals “has been based on a determination that I am ‘suitable.’u2009”