March 8, 2018 / 11:36 PM / 5 months ago

BRIEF-Wynn Resorts, Limited, Universal Entertainment And Aruze USA Reach Settlement Agreement

March 8 (Reuters) - Wynn Resorts Ltd:

* WYNN RESORTS, LIMITED, UNIVERSAL ENTERTAINMENT AND ARUZE USA REACH SETTLEMENT AGREEMENT

* ‍AGREEMENT ALSO PUTS AN END TO CLAIMS BROUGHT BY UNIVERSAL ENTERTAINMENT AND ARUZE USA AGAINST WYNN MACAU IN MACAU​

* ‍SETTLEMENT PROVIDES FOR PARTIES TO AGREEMENT TO DISMISS ALL LITIGATION BETWEEN UNIVERSAL ENTERTAINMENT AND ARUZE USA, AND WYNN RESORTS

* SETTLEMENT AGREEMENT PROVIDES FOR WYNN RESORTS TO PAY$1.94 BILLION OF REDEMPTION NOTE THAT COMPANY PREVIOUSLY ISSUED TO ARUZE

* ALSO AGREED TO PAY ADDITIONAL AMOUNT OF $463.6 MILLION ON MARCH 31, TO SETTLE ALLEGATIONS SURROUNDING INTEREST RATE ON THE REDEMPTION NOTE

* ‍SETTLEMENT PROVIDES DISMISSAL OF ALL LITIGATION BETWEEN PARTIES, CO, ITS THEN-DIRECTORS & EXECUTIVES WITH RESPECT TO REDEMPTION​

* AGREEMENT PROVIDES THAT ARUZE USA WILL NOT CONSIDER ITSELF A PARTY TO AMENDED & RESTATED STOCKHOLDERS AGREEMENT

* AGREEMENT ALSO PROVIDES FOR ARUZE USA NOT TO ASSERT ANY CLAIMS OR RIGHTS UNDER STOCKHOLDERS AGREEMENT​ ‍ Source text for Eikon: Further company coverage:

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