Wynn Resorts, Limited v. Atlantic-Pacific Capital, Inc.
Opinion
Opinion
MEMORANDUM
At issue in this appeal is whether the district court correctly assumed for itself the task of deciding the issue of arbitrability and, if so, whether it properly concluded that the dispute is arbitrable.
In 2009, Atlantic-Pacific Capital, Inc. (“APC”) and Wynn Resorts, Limited (‘Wynn”) entered into a written agreement in which Wynn engaged APC as its exclusive global placement agent to raise $1.5 billion in equity capital for gaming and hospitality assets or related securities. The parties agreed that “any dispute, controversy or claim arising from or relating to th[e] Agreement shall be submitted to and determined by binding arbitration in Las Vegas, Nevada, conducted by” JAMS. The agreement further provided that it “shall be governed by and construed in accordance with the laws of the State of New York.”
In 2010, APC filed a demand for arbitration, alleging four causes of action arising out of the agreement. Wynn responded by filing a complaint in state court and requesting a stay of the arbitration proceedings. APC removed Wynn’s action to federal court, after which the district court stayed the arbitration proceedings and denied APC’s motion to compel.