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Wynn Resorts Ltd. Is a company that has received a lot of good news as of late, with record earnings reported throughout the state of Nevada, a number that has not been reached in the history of the company within the state. However, upon this news, the company estimated number of recent announcements that show that they are looking to continue to grow, including offering new facilities within their current establishments, and the announcement of the new facility that will be built in Macau. The facility will reportedly cost upwards of $3.5 billion to build, including the possibility of opening it up sometime around the holiday season of 2016, which would put a 3 1/2 year build time on the operation.

The announcement was made by the chairman Steve Wynn, who confirm that a lot of stabilization work had been done on the site in which the resort was planned to be build on. The land was reclaimed land that was once a waterway between two different islands. The foundation will be as deep as the length of a football field, and is the first construction job before work is begun. The announcement came swiftly after excellent earnings reports were announced for the company, and it will be interesting to see if these reports were the reasoning behind the announcement at this time. The resort that they are planning to build is going to be roughly the size of the Bellagio, according to the reports that were later released. Steve Wynn went on to talk further about the planning that they have done for the resort, in the announcement.

“At the bottom of the escalator from that light-rail system, we have put a Doppelmayr gondola car that has music and is air conditioned. People will get into the gondolas and they go around the fountains into the hotel, looking at the fountains and down at our pool area while music plays and fountains dance,” Wynn said. “We are meeting in many, many new ways the challenge of our neighbors and hoping to get the folks in the other hotels to experience our own.”

It sounds as if they are going to be modeling the new $3.5 billion Macau resort off of some of their previously built resorts that have done well for the company. Steve Wynn has admitted that he admires the competitors that he has in China, but also went on to say that the competition will keep him at the top of his game. The public still hasn’t seen the full potential of what they are going to offer, and many more announcements about the property are expected to be made at some point here in the near future. The Las Vegas casinos have had double-digit increases in revenue over 2011, which has allowed the company to seek out additional investment opportunities in order to grow their company.

It will be interesting to see if the company is going to be able to capitalize on the Macau region, a region that has continually grown in gambling presence in recent years, and continues to be a popular choice of expansion areas for casinos.

Nevada gaming officials have been investigating Wynn Resorts Ltd. Over the course of the last several years, and that investigation has finally come to an end. It was originally asserted by a Japanese billionaire that the casino operator and made improper donations to the University of Macau, and complain that unfair practices were being conducted by the company. However, at this time there was no evidence of wrongdoing. In addition to this, the company stated in federal court granted its motion to dismiss the shareholder complaint against the company related to the donation, and no wrongdoing was found at the time. The regulatory body stated that there was no legal basis for the investigation to continue.

The accusations actually come from an ongoing personal battle between two former friends and business partners. The previously mentioned Japanese billionaire is Kazuo Okada, who had a very well known falling out with the company CEO Steve Wynn. At one point, Okada used to be the single largest shareholder in the company. He tried to forcibly purchase back all of the shares after it was found that the Japanese billionaire had made unlawful payments to overseas gambling regulators, in an effort to distance the company from those activities. Since that time, the two have continued to trade accusations with one another, alleging nefarious activities and improper payments across the board. This, combined with several ethical complaints, have made this a very heated battle between the two former friends.

At this point, Wynn is looking to remove Okada from its board, a position that he still holds from when he was the largest shareholder within the company. With a meeting coming up on 22 February, the company is looking to have him removed from the board before that time. Okada have filed suit in the Nevada federal court to halt the meeting, while the other issues play themselves out. The company responded by saying that they had already deemed him unsuitable for the board, after a lengthy investigation by the former director of the FBI Louis Freeh, uncovered evidence of improper conduct in connection with a number of companies in dealings that he had dealt with previously. On Monday, Wynn stated that Institutional Shareholder Services Inc, which operates as a major proxy advisory firm, issued a report recommending that the board was able to remove Okada from all future proceedings. Shares for the company fell $.11 to a total of $126.26 in morning trading after this news was released by major media sources.

It will be interesting to see how the argument between the company and their former lead investor, play out in the future. It is clear that the two have had a bitter rivalry since the original findings, and it will be interesting to see if Okada is able to salvage his reputation in the wake of these findings. Although there have been many accusations of unethical conduct in the past by individuals connected to this industry, it has never pitted two industry giants against one another in the same way that this circumstance has.