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2/20/2012 6:21:11 PM
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Mavin's column belittles the Wall Street Journal.
The 10 years and the 2% interest rate come from ARTICLE VII COMPLIANCE WITH GAMING LAWS (j) of the Articles of Incorporation (page 7) filed with the S-1 in 2002. It was not arbitrarily picked yesterday.
But the timing, just after the ex-dividend date for $.50, saves Wynn Resorts Limited ~50¢ a share on the whole Okada position.
Overlooked so far is that Wynn Resorts has to pay Okada's legal fees in defending his ouster. It's in the Articles of Incorporation.
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