Macau’s Court of Second Instance (TSI) yesterday dismissed an appeal filed by Japanese business tycoon Kazuo Okada against an earlier defeat at the Court of First Instance (TJB), the Times confirmed with the court.
Okada is suing Wynn Macau for USD1 billion, but the latter was handed key legal victories in Macau and Nevada over the last two years.
Formally, Okada may still appeal the Court of Second Instance’s decision, bringing the case to Macau’s Court of Final Appeal.
However, the Times has learned that the lower courts’ two negative rulings will prove a deterrent. Moreover, legal costs in Macau are proportionate to compensation claims, which for this case, will be in the millions.
Last year, Wynn Resorts dropped all claims against Okada and settled a lawsuit with Universal Entertainment for USD2.4 billion, just one month after Matt Maddox was appointed chief executive officer in the wake of the Steve Wynn scandal.
Okada was a Wynn board member in 2012, when the Las Vegas-based company filed a lawsuit against him claiming that bribery allegations threatened the company’s reputation. In 2017, Universal company officials ousted the Japanese businessman after accusing him of misappropriating millions of dollars. Okada has denied any wrongdoing.
Macau’s Court of First Instance also sided with Wynn Macau on a lawsuit filed by Rogelio Yusi Bangsil Jr., a former gaming regulator in the Philippines. Bangsil did not appeal the verdict within the legal deadline, so the TJB’s sentence is final. The former regulator said nonetheless he is considering legal action in the U.S. PC/DB