The Macau Metro Monitor, August 29, 2012
JAPANESE PACHINKO MOGUL SUES WYNN RESORTS IN TOKYO AP
Universal Entertainment said that it is seeking damages for harm caused to its share price and business due to Wynn's decision to remove Okada as a board member and reclaim the $2.77 billion of shares in the company owned by Universal Entertainment. The lawsuit filed in Tokyo this week is demanding 11 billion yen ($140 million) in damages.
PERMIRA SELLS STAKE IN GALAXY ENTERTAINMENT Macau Business
Permira Advisers has sold 278.8 million shares at HK$21 (US$2.7) each, which represented 6.7% of the share capital of Galaxy Entertainment and close to 53% of Permira’s stake. The source added that the shares were sold to a small number of investors, including existing Galaxy Entertainment shareholders and new investors, as well as long-only funds and hedge funds. The deal raised an estimated HK$5.85 billion.