August 28, 2014
LAS VEGAS (AP) - Wynn Resorts Ltd. CEO Steve Wynn says the Securities and Exchange Commission has ended its inquiry into allegations by a Japanese billionaire that the casino operator made an improper donation to the University of Macau.
Wynn informed The Associated Press from his boat on the Spanish island of Ibiza on Monday. Wynn says he'd never had any doubt federal investigators would clear the company.
The accusations stem from an ongoing battle between former friends and business partners Kazuo Okada and Wynn.
Okada used to be Wynn Resorts' single largest shareholder, but the company forcibly bought back his shares after it said it found that Okada made improper payments to overseas gambling regulators.
The two have traded accusations of unethical or illegal conduct during the extended legal, and seemingly personal, dispute.
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