$2.6B settlement ends 6-year Wynn Resorts-Universal dispute

U.S. casino operator Wynn Resorts Ltd. and Japan-listed gambling operator Universal Entertainment Corp. have agreed to let bygones be bygones—to the tune of $2.4 billion.

In a disclosure to Nasdaq on Thursday, Wynn Resorts announced that it settled a stock redemption dispute with Universal and its unit Aruze USA Inc., which stemmed from Japanese casino mogul Kazuo Okada’s ouster from the U.S. listed firm.

The settlement also includes the dispute between Universal Entertainment and Aruze USA against Wynn Macau in Macau.

Financial analysts, however, noted that the $2.4 billion was lower than the market’s expectations.