Kazuo Okada resigns from Wynn Resorts board of directors February 21, 2013 at 4:46 pm Chris Sieroty, Las Vegas Review-Journal Kazuo Okada, co-founder and one-time largest shareholder in Wynn Resorts Ltd., resigned Thursday from the gaming company’s board of directors. Okada’s resignation comes one day before Wynn Resorts shareholders were scheduled to vote on his status as a director. “Since the year 2000, Steve Wynn has orchestrated a deliberate campaign to deceive me,” Okada said in a statement. “His actions have betrayed our friendship, the management agreement executed between us, the shareholders agreement executed in 2002, and ultimately Universal Entertainment Inc.” Wynn Resorts, the gaming company controlled by Steve Wynn, plans a special meeting Friday to vote on Okada’s removal. A two-thirds vote of shareholders is required to remove Okada, whose nearly 20 percent stake was sized by the company last year, Okada was also removed from the board of Wynn Macau Ltd, a subsidiary of the Las Vegas-based gaming company. Universal Entertainment owns Aruze USA, a slot machine manufacturer in Las Vegas that has been licensed in Nevada since 2004. Michael Weaver, senior vice president marketing strategy with Wynn Resorts, said the shareholder meeting is still scheduled for Friday and the company will ratify the vote on Okada’s status as a company director. Okada’s shares were seized by the company after an internal report alleged that his company, Universal, had violated U.S. anti-corruption laws through payments it had to gaming regulators in the Philippines. Okada and Aruze USA invested $260 million in November 2000 for a 50 percent stake in Valvino Lamore LLC, the predecessor to Wynn Resorts. “Going forward, I will continue to focus my efforts on managing (Universal) and ensuring its continued growth,” Okada said. “I remain determined to fight Steve Wynn’s involuntary redemption of my nearly 20 percent state in Wynn Resorts at a 30 percent discount.” Okada said his resignation from the board of directors “will not impede me from protecting my good name and reputation as Universal and Aruze USA forcefully prosecute the claims made against Wynn Resorts in Nevada State Court.” Contact reporter Chris Sieroty at email@example.com or 702-477-3893. Follow @sierotyfeatures on Twitter.