Steve Wynn has started selling his shares in Wynn Resorts

Steve Wynn has started selling his stake in the casino company that bears his name.The embattled casino magnat...

Posted: Mar 22, 2018 2:39 PM
Updated: Mar 22, 2018 2:39 PM

Steve Wynn has started selling his stake in the casino company that bears his name.

The embattled casino magnate who resigned as chairman and CEO of the company in February after allegations of sexual misconduct, sold 4.1 million of his 12.1 million shares on Wednesday, according to an SEC filing.

He sold them for $180 a share, which means the total sale was worth about $739 million. Wynn has denied the allegations made against him, calling them "preposterous."

At the time of his resignation in February he said he did not intend to sell his stake. But Wednesday he filed a new statement saying he "intends to sell all or a portion" of his company stock. He had previously agreed to limit his sales to about 4 million shares in any one quarter, meaning he would have to wait until at least July to dispose of his entire stake.

Related: Wynn Resorts shakes up board as legal woes drag on

Wynn had been the driving force at his company and in reshaping Las Vegas as a tourist destination over the last 30 years.

In the days immediately following the report of allegations against him in the Wall Street Journal, Wynn stock plunged 19%. But the shares have since recovered nearly half of those losses.

Meanwhile the allegations against Wynn have raised questions with gaming regulators from Macau to Massachusetts, putting it licenses at some risk.

West Lafayette
Clear
69° wxIcon
Hi: 89° Lo: 66°
Feels Like: 69°
Kokomo
Clear
69° wxIcon
Hi: 86° Lo: 64°
Feels Like: 69°
Rensselaer
Clear
68° wxIcon
Hi: 85° Lo: 63°
Feels Like: 68°
Fowler
Clear
68° wxIcon
Hi: 86° Lo: 64°
Feels Like: 68°
Williamsport
Clear
69° wxIcon
Hi: 88° Lo: 66°
Feels Like: 69°
Crawfordsville
Clear
66° wxIcon
Hi: 88° Lo: 66°
Feels Like: 66°
Frankfort
Scattered Clouds
69° wxIcon
Hi: 88° Lo: 65°
Feels Like: 69°
Delphi
Clear
67° wxIcon
Hi: 87° Lo: 64°
Feels Like: 67°
Monticello
Clear
67° wxIcon
Hi: 86° Lo: 64°
Feels Like: 67°
Logansport
Clear
68° wxIcon
Hi: 86° Lo: 63°
Feels Like: 68°
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 50300

Reported Deaths: 2748
CountyConfirmedDeaths
Marion11920692
Lake5432248
Elkhart347058
Allen2902133
St. Joseph205169
Hamilton1665101
Cass16449
Hendricks1446100
Johnson1325118
Porter80238
Tippecanoe7599
Clark68144
Vanderburgh6816
Madison67264
LaPorte60527
Howard59458
Bartholomew59345
Kosciusko5704
Marshall5308
Noble50128
LaGrange4829
Jackson4783
Boone47444
Delaware46952
Hancock46036
Shelby43525
Floyd40444
Morgan33631
Monroe32928
Grant30926
Dubois2976
Henry29717
Montgomery29720
Clinton2893
White26810
Decatur25532
Dearborn25423
Lawrence25225
Vigo2478
Warrick24329
Harrison21722
Greene19332
Miami1922
Jennings17912
Putnam1728
DeKalb1674
Scott1639
Wayne1536
Daviess15017
Perry1459
Orange13723
Steuben1362
Jasper1332
Franklin1278
Ripley1277
Wabash1152
Carroll1132
Gibson1132
Fayette1057
Whitley1045
Newton10010
Starke983
Huntington932
Randolph794
Wells791
Jefferson782
Fulton731
Jay680
Washington681
Knox670
Clay665
Pulaski661
Rush613
Posey550
Owen521
Benton510
Spencer501
Adams491
Sullivan471
Brown431
Blackford402
Fountain352
Crawford330
Tipton321
Switzerland300
Martin240
Parke230
Ohio220
Vermillion200
Warren151
Union130
Pike110
Unassigned0193

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events