Wynn's Macau University Donation Draws SEC Scrutiny

Law360, New York (February 13, 2012, 3:36 PM EST) -- The U.S. Securities and Exchange Commission is probing Wynn Resorts Ltd.'s $135 million endowment for a Macau university, which is tied to the company's planned expansion of its huge casino development in the region, the casino and hotel operator said Monday.

The disclosure in an SEC filing follows a lawsuit that Kazuo Okada filed in January in Nevada seeking company records concerning his investments, including the University of Macau Development Foundation endowment. Okada has a 20 percent stake in the company.

In the filing, Wynn Resorts...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.