Focus on Universal payment in ongoing alleged bribery investigations
The payment came as Universal worked with Soriano on trying to secure land rights for its USD 2 billion casino in Manila’s Entertainment City. In a closed-door meeting with the Nevada Gaming Control Board, Universal directors, including Kazuo Okada, acknowledged the payment should have never been made.
Universal blames three former Japanese employees for the mistaken payment, saying at least one of the employees withheld information that could have prevented the payment. Those three former employees were sued by Universal last year.
Okada meanwhile remains in litigation with Wynn Resorts. Wynn sued Okada for breach of fiduciary duty and forced the redemption of his 20 per cent stake in Wynn over claims that Okada’s actions in getting a Philippine gaming license made him unsuitable for licensing in the US. Several other suits and countersuits from Okada have stemmed from that dispute.
Those lawsuits were put on hold by the US Department of Justice to allow time to investigate the bribery allegations against Okada.
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