Universal Entertainment Corporation (“company”) announced that the company has determined to repurchase and/or prepay the Universal Entertainment Corporation Offshore Private Notes issued on August 24, 2015, and the Series 2: Universal Entertainment Corporation Offshore Private Notes issued on October 14, 2016 and December 1, 2016. As indicated in the “Announcement Regarding Settlement with Wynn Resorts, Limited dated March 9, 2018, the company and Aruze USA Inc., a US subsidiary of the company entered into a settlement agreement on March 8, 2018 with Wynn Resorts, Limited relating to certain lawsuits pending in the Nevada State District Court among Wynn Resorts, the company, Aruze USA, and Mr. Kazuo Okada, former chairman of the company. Pursuant to this settlement agreement, on March 30, 2018, the Company group received the agreed settlement proceeds from Wynn Resorts. As a result, in order to lighten interest burden through the debt reduction, the company commenced a process to repurchase the Target Notes pursuant to the terms with regard to the repurchase and the prepayment and dispatched a notice to the holders of the Target Notes on April 2, 2018, pursuant to which the Noteholders may elect to have their Target Notes repurchased by the Company. In addition, the Board of Directors of the Company adopted a resolution dated April 1, 2018, to exercise its option to prepay any outstanding Target Notes which are not subject to the Settlement Proceeds Repurchase. Target Notes subject to the settlement proceeds repurchase will be repurchased by the company, following which all outstanding Target Notes which are not subject to the settlement proceeds repurchase will be voluntarily prepaid. The expected date for settlement proceeds repurchase is May 11, 2018 and voluntary prepayment is May 14, 2018.