Wynn Resorts settles lawsuit for $2.4 bn with Tokyo company
Casino operator Wynn Resorts has agreed to pay $2.4 billion to Tokyo-based Universal Entertainment over forced redemption of their stake in Wynn Resorts. Wynn Resorts forcibly redeemed the shares in 2012 and issued $1.9-billion promissory note in return. It claimed Universal's Founder Kazuo Okada had put the firm's gaming licenses at risk by making illicit payments to overseas gambling regulators.