Key points:
- Former Wynn Resorts Co-Founder and board member and ex-wife of Founder Steve Wynn has passed age 82
- Wynn was the largest Wynn Resorts shareholder
Wynn Resorts Co-Founder Elaine Wynn, ex-wife of Wynn Resorts Founder Steve Wynn, has passed at the age of 82.
Wynn was the largest Wynn Resorts shareholder at the time of her passing. However, following her divorce from Wynn in 2010, she was removed from her role on the Board.
In a post to LinkedIn, the company wrote: 'She helped to create and grow the company to become the most esteemed luxury resort brand in the world. Her many talents and special touches are indelibly imprinted on the company and still evident throughout our resorts.' The post went on to highlight staff's memories of Wynn, particularly following the 20 year anniversary of the opening of Wynn Las Vegas.
Indeed, since the founding of the land-based operator in 2002, it has gone on to develop casinos around the world, both in the US and abroad. Wynn is currently developing a new property in the United Arab Emirates, Wynn Al Marjan Island, which will be the first land-based property in the country. Wynn, therefore, was the first operator to receive a licence to create such a property.
This success is reflected in the operator's latest financial results, which saw FY24 revenue come to $7.13bn, up 9.1% year-on-year. This was largely due to growth in Macau, where revenue was up 14.6%, while Vegas revenue remained relatively stagnant, up 1.2%.
Steve Wynn no longer runs the company, having stepped down as CEO in 2018. He has since gone on to fight in several defamation cases, after former staff accused Wynn of sexual misconduct.
