only briefly referenced the NGCB<\/a> settlement during the company’s 2018 earnings call.<\/p>\nWynn Resorts remains under investigation by the Massachusetts Gaming Commission, which is determining whether the company remains suitable to operate the under-construction Encore Boston Harbor.<\/p>\n
Shareholders Lose Value<\/b><\/h2>\n
The shareholder lawsuits contend that there was systemic failure at Wynn Resorts to properly address Steve Wynn’s alleged actions.<\/p>\n
The day before the WSJ <\/i>article was published in late January 2018, Wynn Resorts shares on NASDAQ were trading at $180. By the end of last year, the stock had tumbled more than 44 percent to $100.<\/strong><\/p>\nIt wasn’t simply the sexual misconduct scandal that hurt the company, as the stock market as a whole endured a difficult second half of 2018. One man who saved money on the stock market selloff was Wynn himself.<\/p>\n
The billionaire sold his Wynn Resorts shares in March at around $175 each for a total exchange of $2.1 billion.\u00a0<\/span>That means should he essentially saved around $900 million by selling the position.<\/p>\nForbes <\/i>has Steve Wynn’s real time net worth at $3 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Wynn Resorts and the Nevada Gaming Control Board (NGCB) reached a settlement late last month stemming from the numerous sexual misconduct allegations made against the company’s shamed founder and former CEO. Attorneys representing shareholders suing the casino operator say that only helps their cases moving forward. Speaking with the Las Vegas Review-Journal, lawyer William Kemp, […]<\/p>\n","protected":false},"author":25,"featured_media":97751,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,60,18,13592],"tags":[],"acf":[],"yoast_head":"\n
Wynn Resorts Shareholders Suing Company Optimistic After Settlement<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n