The Gaming Inspection and Coordination Bureau has started “the procedures of an investigation” into the dispute between Japanese businessman Kazuo Okada and Wynn Resorts Ltd., the parent company of Wynn Macau Ltd. “As you may imagine the procedures that have been done and till the present moment are subject to the Macau Secrecy Act, and from this perspective we are not able to disclose much details on the case,” the regulator told Bloomberg in an emailed statement. “Nevertheless, we would like to highlight that Mr Okada was not a direct shareholder of Wynn Macau,” the body added. “A final decision and appreciation on the subject would be taken as soon as the investigation is secure about all the relevant information and documentation according to Macau laws and regulations.” The Macau regulator had previously disclosed it had requested more information from Wynn on this case. Last month, Mr Okada saw his 20 percent stake in Wynn Resorts Ltd. forcibly bought out by the company following accusations that he had paid bribes to regulators in the Philippines worth US$110,000. Following those accusations, Mr Okada was removed from Wynn Macau’s board of directors after an emergency board meeting. Last night, Wynn Resorts requested shareholders to attend a special meeting to approve the removal of Mr Okada as a director. The date hasn’t been set.
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