Tag Archives: Steve Wynn
US – Attorney says Nevada Board has no authority to discipline Steve Wynn
The Nevada Gaming Control Board (NGCB) is overstepping its authority in its attempts to ban Steve Wynn from the gaming industry, according to the former CEO and Founder of Wynn Resorts’ attorney. In a filing looking to rebuke regulators’ demands, Mr. Wynn claimed there’s nothing to revoke because Wynn Resorts removed Wynn from its gaming…
US – Nevada Gaming Board wants Steve Wynn declared ‘unsuitable to be associated with the gaming industry’
The Nevada Gaming Control Board wants the Nevada Gaming Commission to ban Steve Wynn from ever being able to have a gaming licence in the city he shaped, saying he ‘is not a person of good character, honesty, and/or integrity’ and is ‘unsuitable to be associated with a gaming enterprise or the gaming industry as…
US – Wynn Resorts to pay settlement for turning a blind eye
Executives at Wynn Resorts ignored the behaviour of their then boss Steve Wynn for more than a decade as he was accused of sexually harassing cocktail girls, salon workers and flight attendants that he employed, according to allegations contained in a report by the Nevada Gaming Control Board. Agreeing to pay an as yet unknown…
US – Elaine Wynn demands a completely new Board of Directors at Wynn Resorts
Steve Wynn’s ex-wife, Elaine Wynn, now the biggest shareholder in Wynn Resorts, wants the company to completely overhaul the structure of its board. Ms. Wynn said she was focused both on maximising the company’s value and on ‘fully restoring its reputation and in transforming it into a corporate-governance leader.’ She wants shareholders to nominate new…
China – Galaxy buys 5.3m shares as Steve Wynn cashes out
Macau casino operator Galaxy Entertainment has bought 5.3m shares in Wynn Resorts for US$927.5m giving it a five per cent share in the company. Analysts believe that the deal strengthens Wynn’s position in Macau whilst bolstering the potential for a joint bid for a lucrative casino licence in Japan. The investment comes as the company’s…
US – Bloomberg columnist tips Genting to look at win Wynn situation
Former Wynn Resorts CEO and Founder Steve Wynn has sold 4.1m shares in the company for US$739m, reducing his stake down to 7.8 per cent from 12.1 per cent in a move that could trigger a takeover. Mr Wynn said he could still ‘sell all’ of his shares in the company with one analyst believing…
China – Fireworks as Macau government responds to Wynn’s table cap criticism
The government in Macau has rounded on Steve Wynn after he publically lamented the government’s policies when it came to issuing table game allocations for new casinos. Mr. Wynn, who has long been a keen advocate in how Macau’s leaders does business, is dismayed at how casinos are having to make employment decisions and investment…
Kazakhstan – Wynn meets with Kazakhstan President
Kazakhstan’s head of state, President Nursultan Nazarbayev, has held a meeting with the CEO of Wynn Resorts, Steve Wynn. Local reports suggest that the meeting called to discuss the development of the tourism industry and hotel business in Kazakhstan. In addition, the prospects for joint projects within the framework of investment activity were discussed as part…
The Philippines – Universal cleared of making illegal payments
Universal Entertainment Corp has been cleared of making any alleged illegal payments to Philippines regulator PAGCOR to smooth the development of its US$2bn Manila Bay Resorts. Universal, led by Kazuo Okada, blamed news service Reuters for the investigation for what it termed ‘partial and inaccurate reports’ and said it would be taking legal action although…
