The battle between Wynn Resorts and Kazuo Okada continues to grow as the two sides continue to but heads over ownership of the company and newly contested bribery allegations. According to the NY Times Dealbook, the pending legal battle over violations of foreign bribery laws by Mr. Okada is just another step along the way in this long corporate battle for control over the profitable casino empire. This new investigation has opened up Wynn Resorts to a federal investigation by the State Department and the SEC; where they will now comb over the resorts books and look for any possible discrepancies. After ousting Okada from his position as a major shareholder; former business partner and friend Steven Wynn is, as it now appears, on the offensive in removing Okada from his formerly influential position. However; what strikes at the heart of this story is the dissolution of such an influential business partnership and the nasty fallout that often follows this type of proceedings. So often in big business does this type of breakupend with a large legal battle and harsh words exchanged by the two sides. While this conflict is still young, it will be interesting to see how such a pivotal brand in Casinos is affected by this recent turmoil.
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Editorial Staff
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