SUMMARY
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The courtroom battle between Las Vegas magnate Steve Wynn and Japan’s Pachinko king, Kazuo Okada, was years in the making say insiders. The Philippines may just have been the last straw that hastened the unravelling of their relationship. Okada wanted to build a casino in the Philippines; Wynn did not. Wynn Resorts commissioned a study that said corruption was “deeply ingrained” in the Philippines gambling industry and raised questions about Okada’s activities there. A former director of the Federal Bureau of Investigation, Louis Freeh, confronted Okada about paying around $110,000 in expenses for government officials from the Philippines to stay at Wynn resorts casinos, violating the US Foreign Corrupt Practices Act. Wynn’s filing last month raised questions about whether Filipino officials were involved in corruption, with Malacanang defending the Pagcor head, whom it said was only using “industry practices.”
On Monday, Okada sued Wynn in a counter-claim in a federal court in Las Vegas.
Read more about the feud between the former business partners at the Wall Street Journal and about Monday’s filing on Bloomberg.
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