Wynn ousts Okada from board of Macau casino

Shanghai Daily Business



BILLIONAIRE Steve Wynn stepped up the feud with his former business partner Kazuo Okada yesterday by removing the Japanese tycoon from the board of his Macau casino company.

Wynn Macau's board voted to remove Okada following allegations he made improper payments to Asian gambling regulators, a violation of United States anti-corruption laws.

Wynn Macau said its board "resolved" to remove Okada as a non-executive director immediately because it was in the "best interests" of the company.

Okada is the biggest shareholder in Hong Kong-listed Wynn Macau's parent company, Wynn Resorts Ltd. He's fighting attempts by Wynn Resorts to forcibly buy back his 20 percent stake in the US company.

Wynn Resorts is trying to distance itself from the 69-year-old Okada after an investigation by a former Federal Bureau of Investigation director unearthed cash payments and gifts totaling US$110,000 to gambling regulators, including regulators in the Philippines.

"After due consideration of the independent report, taking into account the company's high ethical standards, the board determined it was obligated to remove Mr Okada," a company statement said, citing "unacceptable conduct" by Okada, his employees and associates.

Okada owns Wynn Resorts stake through his Japan-based casino game company, Universal Entertainment Corp.

Wynn's ousting of Okada is the latest salvo in a bitter dispute between the two billionaires who are former friends and business partners.

Wynn Resorts said earlier this week that Louis Freeh's investigation uncovered more than three dozen instances over a three-year period in which Okada and his associates engaged in "improper activities for their own benefit."

The yearlong probe showed Okada repeatedly violated company conduct policies and US anti-corruption laws, the company said.

Freeh's report alleges that Okada, who is developing a casino resort in the Philippines, personally directed payments and gifts to Cristino Naguiat, chairman of the government-owned casino operator and regulator, Philippine Amusement and Gaming Corp, during a visit by Naguiat and his family to Macau in September 2010.


(2/4) 2011 All England Open Badminton Tournament Men's Single Final

Full length version @ badmintonmap.com Commented by Badmintonmap All England Badminton Open is the only badminton tournament has a history more than 100 years. Before Badminton became an Olympic game and World Champion Game was introduced, AEO was long deemed as the Mt. Everest for badminton players. Even today, when some tournament pays much higher than AEO, it is still widely accepted as one of the only three games where a laureate can claim a 'World Champion', along with Olympic Game and World Champion Game. This game between LIN and LEE has been long waited by most badminton fan around the globe. LIN and LEE are widely deemed as the only two best men's single players today. On the one side, LIN Dan has won 4 All England title along side with any championship he can ever play for, including Olympic, World Champion, Aisan Champion, etc. On the other side, LEE Chong Wei has long been ranked as No. 1 by WBF, but he has won only one majoy title so far: the 100th AEO Men's Single Champion. Will LEE defend his title? Or LIN will won his 5th AEO title? All badminton fans have the same question. I never gamble against badminton game. But if I ever did, I would have bet on LIN. Even thouhg LEE is the only player today who can give LIN a serious challenge, LIN has won majority of the games among two. He defeated LEE in Korean Open not long ago. However, the result of this game is a bit surprise to me. I have to say, this is a positive surprise: LIN's dominance on Men's single ...

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