Kazuo Okada resigned from Wynn Resorts Ltd not waiting for the results of the board of directors' vote. The Japanese billionaire is actually facing ouster by the board. Wynn Resorts said in a statement that an initial vote count showed 99.7 percent wanted Okada out during a planned special meeting to be held. Okada persuaded a federal judge to restrain the holding of the special meeting but failed. "We greatly appreciate the overwhelming support from our stockholders," Steve Wynn said in his statement.

Okada, chairman of Universal Entertainment Corp. vows to fight to recover the shares of stock seized by Wynn Resorts. A year ago, Okada's shares were forcibly taken after payment of a $1.9 billion promissory note. Disagreement started when Okada publicly questioned a $135million donation that Wynn Resorts made to a Macau university foundation, while Wynn is questioning Okada of handing gifts and cash to regulators of Asian Casinos.

In October 2002, Okada financed the casino operation of Wynn. He was the largest individual shareholder until February 2012.