Wynn's Divorce Agreement

[stacy123]

As you know the Wynn's have divorced again and as a part of their divorce agreement, Steve Wynn is required to transfer half of his stock in the Las Vegas based to his ex, Elaine Wynn. But- he is not giving up his control over the company.

They will both retain about 9% ownership in the outstanding shares which are traded on Nasdaq.

A Japanese gaming company, Aruze USA Inc., controls 19.9% of the of the outstanding shares of Wynn Resorts. They are the largest share holder.

As an amended shareholder's agreement, the Wynn's will vote their shares together on any matters that come before the board which gives them 37.9 percent of the company's outstanding shares.

The company operates Wynn Las Vegas, Wynn Macau and the the $675 million expansion Encore at Wynn Macau, is expected to open in the spring.

[ClassyTouch]

I would divorce him for that..LOL

Why didn't I years ago invest in stocks to some of those casinos? I would retire now..LOL

Hind sight is 20.20 they say..LOL

[scoobygirl30]

I never want to see people get divorced, though some times things just cant be worked out. Hopefully this wont be a completely hateful parting.

As for what you said ClassyTouch, I too wish I would or could have invested in business such as this. I would never again have to worry about money at this point in my life if I had!!!