Tokyo’s high court rejected has Japanese billionaire Kazuo Okada’s appeal against a lower court’s dismissal of a defamation lawsuit he filed against US casino operator Wynn Resorts.
The judgement reiterated that the case should not be handled by a Japanese court. The case relates to a press release issued by Wynn Resorts in early 2012 alleging business misconduct by Okada in the Philippines and South Korea.
Later in 2012, Okada and two of his companies, including pachinko maker Universal Entertainment Corp, jointly filed a lawsuit seeking damages against Wynn Resorts and some of its top executives. That case, however, was dismissed by Tokyo’s district court in October last year. Okada had sought US$111m in damages.
The high court has now confirmed the decision made in the lower court, Universal said in a regulatory filing on Friday. The high court turned down the Okada camp’s appeal against dismissal, saying the legal fight between Okada and Wynn Resorts is based in the US.
“It is extremely regrettable that the same decision was reached as in the first instance,” Universal said in the statement, adding that is has filed a final appeal and a petition for acceptance of the case by Japan’s Supreme Court.
Okada was ejected as a shareholder of Wynn Resorts and as a board member of Wynn Macau in February 2012. His near 20 per cent stake in the casino developer was cancelled at a 30 per cent discount to the then market price.
The suit is one of several legal battles between Okada and his former business partner, Wynn Resorts chief executive Steve Wynn.
Okada and some of his companies are under investigation in the US and the Philippines for potential violations of anti-bribery laws in relation to the under-construction US$2bn Manila Bay Resorts casino property in the Philippines. Okada has denied any wrongdoing.
