Tag: Genting

Wynn Successful Sues Fund Manager over Owed Money

Posted on by Grant Mahon
  • Wynn Macau successfully wins case for $4.3 million in Malaysia
  • The guilty party will have to pay out the owed money, plus interest
  • Meanwhile Wynn and Genting are getting closer to a court battle due to begin on January 29

Wynn Macau Ltd. has successfully concluded a court case against a fund manager who owed the company money. The guilty party had been paid in the form of a credit, which Wynn has now successfully recuperated in court.

Wynn Settles Legal Challenge in Malaysia

In a rare turn of events, Wynn Macau Ltd. managed to win a court case against an individual, identified as Paul Poh Yang Hong, who owed the company money in the form of a line of credit. Based on the active legislation in the country, gambling contracts are not legally binding, and this is precisely what made the case interesting.

However, Wynn specified that it wasn’t looking to collect gaming proceedings, but rather – honor a credit agreement, which proved to be the winning argument in court. The sum of the contract was substantial with the individual previously requesting HKD40 million credit from Wynn, which was granted.

Since then, the fund manager had still to honor HKD33 million in due payments, prompting Wynn Macau Ltd to launch a lawsuit in 2017. The news was also reported by Reuters, which fleshed out details of the case.

Judge S. Nantha Balan from the Kuala Lumpur court has ruled that Poh will have to pay the outstanding amount to Wynn Macau, plus interest.

The decision is not final as Poh can still appeal, although Wynn’s attorney Vincent Law believes that the case constituted an important victory for the gaming industry.

Malaysia and Wynn, Tied into a Legal Pickle

Interestingly enough Wynn’s U.S. subsidiary, Wynn Resorts Ltd. is tied up with Malaysia in another way. Last year, Wynn filed a complaint against Malaysia-based Genting Berhad over a property built at the northern end of the Las Vegas Strip.

Genting Denies Wynn Copyright Claims, Prepares for Court

According to the complaint, Genting was intentionally copying Wynn and Encore Towers’ design in a bid to syphon off customers from its own property. Genting has since dismissed the statement, issuing their official statement at the end of 2018.

Moving into 2019, none of the parties has seemed prepared to relent. Genting’s World Resorts Las Vegas is estimated at $4 billion, making a hiatus or cacellation of construction work not an option.

Meanwhile, Wynn continues to maintain that the claims made in its unlawful competition lawsuit dated December 21 very much apply. However, Genting has since said that the allegations were “baseless”.

Here’s what Genting SVP PR and Development Michael Levoff had to say, cited by Review Journal:

Genting (Resorts World’s parent company) remains confident that once all of the relevant facts are presented the company will defeat Wynn’s baseless claims.

The two parties are expected to meet in court in Nevada on January 29. In so many ways, Wynn continues to be legally bound to Malaysia, and not always in a good way.

Grant Mahon

Grant is the self-professed casino madman and reporter that brought this eclectic team of dedicated and talented writers together from around the world to proudly build an humble empire of authentic casino news.

Genting Denies Wynn Copyright Claims, Prepares for Court

Posted on by George Hansen
  • Genting Berhard denies wrongdoing, responding to Wynn Resorts’ claims that the company had copied its design for an upcoming integrated resort property in Las Vegas
  • The company has presented visual proof and pushes ahead with construction while preparing to meet Genting in court
  • Massachusetts wraps up probe against former CEO Steve Wynn

Embroiled in a dispute over copyrights, the impasse between Genting Berhard and Wynn Resorts remains unchanged. Genting Berhard has denied wrongdoing or attempting to copy the design of Wynn in the newly-constructed Resorts World Las Vegas LLC integrated resort.

Genting Berhard Says It Didn’t Copy Wynn Resorts’ Design

In December, Wynn Resorts lodged a lawsuit against Genting Berhard’s Resorts World Las Vegas LLC and its property under construction in Las Vegas. The $4-billion project developed by Genting’s subsidiary is due to arrive late in 2020, located in the vicinity of an already existing Wynn property.

Last week, Genting filed their official rebuttal of Wynn Resorts’ demands to halt construction and overhaul the exterior design of the property. In their filing dated December 21, 2018, Wynn Resorts said that the property had “a substantially similar architectural design and trade dress.”

Wynn Wins Temporary Extension on Report Confidentiality

On the other hand, Genting has been set against the position outlined by the plaintiff. According to the company, the Resorts World Las Vegas will not resemble its neighbor, with Genting laying down the following argument:

[Wynn’s position] is predicated on speculative extrapolation regarding the appearance of the Defendant’s unfinished resort and casino, which is still in an early stage of construction with nearly two years left to go before opening.

Genting’s answer said that the final property would look “dramatically different” than Wynn’s own property. Furthermore, Genting said that the design would in no way suggest to a customer that they are entering a Wynn-owned property.

Based on Genting’s position, so far there has been no substantial evidence that proves, within reason, that the company’s subsidiary was actively trying to copy the design of its main competitor. Genting will push ahead with its integrated resort construction plans while at the same time gearing up to face Wynn in court if need be.

Genting even included a “pictorial representation” of the completed Resorts World Las Vegas (RWLV) resort and casino in order to assuage fears that the company was intentionally copying the design of the plaintiff.

Genting’s position is well-presented, which means that they are fully-prepared to take action in court. Wynn Resorts has been embroiled in a sex scandal, investigated by Massachusetts that has now finally come to an end. Nevertheless, no public information is available yet, as the state’s investigators have agreed to honor a request from Steve Wynn, the former CEO of the company.

A public release of the report might give grounds to opponents of Mr. Wynn to pursue legal recourse against him, the position read.

George Hansen

Taking a liking to the occasional bout of slots, George used to moonlight as a roulette dealer, giving him a unique perspective into the casino world. From there he continued his journalist education and has been with us ever since a star-aligned graduation brought him and our team together.