Okada quits Wynn board

Japanese gambling tycoon Kazuo Okada announced Thursday he was resigning from the board of casino operator Wynn Resorts, a day before the company’s board was expected to oust him.

Japanese gambling tycoon Kazuo Okada announced Thursday he was resigning from the board of casino operator Wynn Resorts, a day before the company’s board was expected to oust him.

Gaming giant Wynn Resorts called on shareholders Monday to eject Japanese tycoon Kazuo Okada from the Wynn board of directors in a special vote scheduled on Feb. 22.

Japanese pachinko tycoon Kazuo Okada has filed a lawsuit in Tokyo District Court seeking $140 million in damages from casino operator Wynn Resorts.
The corporate battle between casino giant Wynn Resorts and Universal Entertainment Corp. took a new twist on Tuesday, after the latter sued the Las Vegas-based firm for trying to push the Japanese group out of the partnership through a share buyback at a steeply discounted price.