Kazuo Okada Statement on His Application for a License from the California Gambling Control Commission

Statement Follows CA Department of Justice Reaffirmation of its Recommendation of Suitability to the California Gambling Control Commission

Okada also Comments on Wynn Resorts Ltd.’s Motion to Amend its Feb. 2012 Complaint

LAS VEGAS--()--Kazuo Okada issued the following statement today on his and his wholly-owned subsidiary Aruze Gaming America’s (AGA) application for a Gaming Resource Supplier license from the California Gambling Control Commission (CGCC):

“I am pleased that the California Department of Justice Bureau of Gambling Control recently reaffirmed its “Finding of Suitability” recommendation from December 4, 2012 to the CGCC for AGA (which is wholly owned by me) and its principals. In its February 27, 2013 letter to AGA, the Bureau of Gambling Control indicated it found no reason not to continue to recommend AGA and me for licensure by the CGCC.

The reaffirmation of this recommendation paves the way for the CGCC to make a final determination about our Gaming Resource Supplier license application when it reviews such applications next month. Based on the CA Department of Justice’s recommendation to the CGCC, we look forward to the final determination of our application for licensure in the near future.

Since February 18, 2012, after Wynn Resorts Ltd. brought suit against me in Nevada state court, I have received new gaming licenses in 17 jurisdictions where AGA was not previously licensed, including in Arkansas; Ontario, Canada; and from 15 American Indian tribes. Also since that time, AGA has obtained renewal approval for five state licenses in Arkansas; Alberta, Canada; Florida; Mississippi; and Oklahoma, and had more than 50 of its American Indian tribal licenses renewed. Each of these new licenses and renewals has been based on a determination that I am ‘suitable’.

AGA currently holds 43 licenses with American Indian tribes that operate casinos in California. We are seeking a state-wide license in California based on the positive market response we are seeing to our range of slot machines and gaming devices, as well as our confidence in our business strategy. Business momentum is strong and we look forward to continuing our solid growth across the U.S. market.”

Wynn Resorts Ltd. Amends Its Complaint Against Mr. Okada

Mr. Okada also announced today that Wynn Resorts, Ltd. has sought permission from the Nevada state court to amend its complaint against Mr. Okada, Universal Entertainment and Universal Entertainment’s subsidiary, Aruze USA, Inc. In the February 27, 2013 proposed amendment, Wynn Resorts seeks to abandon its claims that Mr. Okada, Universal Entertainment and Aruze USA misappropriated Wynn Resorts’ trade secrets. Wynn Resorts also now admits that it was aware of Mr. Okada’s pursuit of a casino resort project in the Philippines long before 2011, contradicting Wynn Resorts’ original complaint filed on February 19, 2012.

Mr. Okada added, “Wynn Resorts, at Steve Wynn’s direction, has tried to characterize me as ‘unsuitable’ with baseless accusations, but the truth is now beginning to come out. Wynn Resorts’ abandonment of its trade secret misappropriation claims and concession that it knew about my and Universal Entertainment’s pursuit of the Philippine casino resort project long before 2011 sharply contradict the allegations made in Wynn Resorts’ original complaint against me and Universal Entertainment.

The truth is that we were invited by the Philippine government to consider this project, and I personally presented it to Stephen Wynn as an opportunity for Wynn Resorts. The project stood to present substantial benefit to Wynn Resorts and its shareholders, but Mr. Wynn spurned the opportunity.

Mr. Wynn has subsequently attempted to use my pursuit of a project that will provide substantial economic benefit to the Philippine people as a weapon to attack my integrity, forcibly redeem Aruze USA’s nearly 20% stake as a Wynn Resorts shareholder, and then remove me from the Wynn Resorts’ Board. I am confident that the remaining allegations made by Wynn Resorts will similarly be proven false, just like the trade secret allegations that Wynn Resorts now seeks to abandon.”

Mr. Okada is also a co-founder of Wynn Resorts, Ltd, and founder and Chairman of Universal Entertainment Corporation.

About Aruze Gaming America, Inc.

Las Vegas-based Aruze Gaming America, Inc. designs, develops and manufactures slot machines and gaming devices for the global casino market. With subsidiaries in Australia, South Africa, Macau and Japan, Aruze Gaming America produces highly innovative gaming products, including high resolution video and stepper slot machines, communal gaming products and multi-terminal devices. For more news and information on Aruze Gaming, please visit http://www.aruzegaming.com.

Contacts

For Aruze Gaming America, Inc.:
Rob Ziems, 702-361-3166
Executive Vice President, General Counsel
rob.ziems@aruze-gaming.com
or
For Kazuo Okada:
RLM Finsbury
Kirsti McCabe / Chris Mumma
646-805-2000
Okadamedia@rlmfinsbury.com

Release Summary

Kazuo Okada issued the following statement today on his and his wholly-owned subsidiary Aruze Gaming America’s (AGA) application for a Gaming Resource Supplier license from the CGCC.

Sharing

Contacts

For Aruze Gaming America, Inc.:
Rob Ziems, 702-361-3166
Executive Vice President, General Counsel
rob.ziems@aruze-gaming.com
or
For Kazuo Okada:
RLM Finsbury
Kirsti McCabe / Chris Mumma
646-805-2000
Okadamedia@rlmfinsbury.com