THE M3: OKADA OUSTED

The Macau Metro Monitor, February 24, 2012

WYNN MACAU REMOVES OKADA FROM BOARD; AQUINO ORDERS PROBE BusinessWeek

Wynn Macau has kicked off Kazuo Okada from its board.  Philippine President Benigno Aquino has ordered a probe into payments allegedly made to the nation’s top gaming regulator, Cristino Naguiat.  Wynn Macau cited “unacceptable conduct” by Okada for the board’s decision to remove him as a non-executive director.  Naguiat earlier this week said he had done “nothing inappropriate.”

Accepting free accommodations is “industry practice,” Edwin Lacierda, Aquino’s spokesman, said in a briefing on Feb. 21. “There is no conflict of interest in that sense.” Lacierda also said at the time that Aquino was satisfied with Naguiat’s explanation.