Wynn defends ouster of key investor

Wynn Resorts Ltd. on Tuesday forcefully defended its move to oust a major shareholder over the weekend, explaining the board acted out of an obligation to protect the casino company and its shareholders. Bob Miller, a former Nevada governor who sits on the Wynn board of directors and chairs the company's compliance committee, said during a conference call that the company's license to operate casinos in Las Vegas and Macau could be "put under a cloud of scrutiny" if it hadn't acted to forcibly redeem the shares of Kazuo Okada, a Japanese gambling tycoon who owned 20% of the company From: Wsj