2020_8_pragmatic.gif
2020_8_pragmatic.gif
2020_8_pragmatic.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2020 AffiliateCon
NEWS 19 March 2018

Wynn is given the go-ahead to dispose of shares

By Caroline Watson

A regulatory filing posted late last week detailed that Steve Wynn is now free to sell all, or a portion of his stake in the company.  

According to Thomson Reuters Eikon data, Steve Wynn is the largest shareholder in the company, owning approximately 11.8% of the casino operator, followed by his former wife who has a 9.3% stake.

Due to a prior agreement with Wynn Resorts, Wynn was not allowed to dispose more than one-third of the shares he holds in the company. However, the former CEO and his wife dissolved the agreement, as disclosed by CNBC.

It’s been over a month since Wynn resigned from his roles as CEO and Chairman of the company amid allegations of sexual misconduct.

Wynn previously served as CEO and Chair of Mirage Resorts before founding Wynn Resorts in 2002, turning the company into a multinational multi-billion dollar enterprise and amassing a personal fortune of over $3.3bn. 

At the time at which the news broke, Wynn released a statement, saying: "In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity.

“As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles.” 

RELATED TAGS: Land-Based | Industry | Legal & Regulatory | Financial | Casino
DISCUSS THIS ARTICLE
IN-DEPTH 30 January 2020
CEO Special 2020: BetConstruct/VBet - The long game
READ MORE

PREMIUM CONNECTIONS
Efbet
Systems and Software
We have partnered up with deVRealm in a joint venture for the development of new gambling technology platforms. The primary ...
ActiveWins
PR and Marketing
ActiveWin has ripped up the rulebook on the traditional agency prototype. Our model is based on performance - as you ...
BBIN
Systems and Software
The Leading iGaming Software Supplier in Asia
1xPartners
Affiliate
1xPartners is the innovative and exciting affiliate program offered by 1xBet, one of the world's leading sportsbooks and casinos. Offering ...
Newgioco Group
Systems and Software
Newgioco Group, Inc. (OTCQB:NWGI) is a premier leisure betting technology company providing regulated online and land-based gaming and sports ...
Zimpler
Payments
Zimpler provides a complete In and Out payment solution for online services. That means we take care of identifying the ...
Digital Isle of Man
Legal and Jurisdictions
Digital Isle of Man is responsible for the thriving Digital sector in the Isle of Man, spanning the Island's international ...
BetConstruct
Systems and Software
BetConstruct is a global award-winning technology and services provider for online and land-based gaming industry. BetConstruct's innovative and proven offerings ...
Global Gaming Awards
Industry Awards
The Global Gaming Awards London recognise the most innovative companies and individuals of the gaming world. The Awards are powered ...
NSoft
Systems and Software
NSoft is an award - winning internationally recognized software solutions provider for betting industry. The company has more than 200 employees ...