More than two years after he bought a Las Vegas megamansion, casino billionaire Steve Wynn is trying to sell it for $25 million. The lavish golf course estate, dubbed Museo, spans about 13,500 square feet, has six bedrooms and nine bathrooms, and recently underwent a $16 million renovation. (Ivan Sher Group/Berkshire Hathaway)
For properties that are remaining open Nevada Gov. Steve Sisolak on Sunday created guidelines for operation in order to reduce the spread of COVID-19
The new allegations were presented Friday in a motion that included a 2018 affidavit, alleging former hairstylist Jorgen Nielsen tried to convince a friend to say Steve Wynn raped her and that she bore his son. The affidavit also included new allegations suggesting Elaine Wynn and Nielson orchestrated the assault scandal. (Renee Summerour/Las Vegas Review-Journal)
Nov. 22, 2011: The Expanded Gaming Act initiates a commercial casino industry in Massachusetts. Dec. 16, 2013: Wynn Resorts Ltd. and its Massachusetts subsidiary are found suitable to apply for a state gaming license. Sept. 16-17, 2014: The Massachusetts Gaming Commission votes for Wynn Resorts’ $1.6B Wynn Everett proposal. The commission then votes to award a license to Wynn. Jan. 2, 2015 : Wynn Resorts acquires the 33-acre Everett site on the Mystic River. March 2016 : Steve Wynn announces a budget of $2B for the resort and a new working name — Wynn Boston Harbor — as well as a planned July startup. Construction begins in August. Jan. 26, 2018: The Wall Street Journal publishes a story alleging sexual misconduct and sexual harassment over several years by Steve Wynn. Wynn denies harassing anyone. Jan. 29, 2018: The Massachusetts Gaming Commission begins a regulatory investigation of Steve Wynn and Wynn Resorts. Feb. 6, 2018: Steve Wynn steps down as chairman and CEO of Wynn Resorts. April 2, 2019: The Massachusetts Gaming Commission begins a hearing to determine the standing of Matt Maddox and Wynn Resorts. April 30, 2019: The Massachusetts Gaming Commission delivers its decision.
Business reporter Rick Velotta gives an update on the adjudicatory hearing on the suitability of Wynn Resorts to retain its gaming license in Massachusetts.
The more than 3,000-room Bellagio hotel is situated on the site of the former Dunes Hotel. The Dunes was imploded in 1993, and construction of the Bellagio started in 1996. It cost $1.6 billion to build, making it the most expensive hotel in the world at the time. The Bellagio was former Wynn Resorts Ltd. Chairman and CEO Steve Wynn’s second major casino on the Strip after The Mirage. MGM Resorts International acquired the property from Steve Wynn in 2000. (Tara Mack/Las Vegas Review-Journal)
Steve Wynn, the founder of Wynn Resorts, stepped down as CEO and chairman of Wynn Resorts in February amid investigations of sexual impropriety. Wynn released a statement at the time saying “In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity.” “Therefore, effective immediately, I have decided to step down as CEO and Chairman of the Board of Wynn Resorts, a company I founded and that I love.” Wynn Resorts also released a statement saying, “Wynn Resorts remains as committed as ever to upholding the highest standards and being an inclusive and supportive employer.”
Elaine Wynn, the largest shareholder of Wynn Resorts Ltd., is seeking to kick a friend of her ex-husband Steve Wynn off the company’s board of directors. (Todd Prince/Las Vegas Review-Journal)
Steve Wynn plans to sell shares of Wynn Resorts amid talks from casino regulators over whether he should be forced to cut his stake in the company. ”Mr. Wynn disclosed that he intends to sell all or a portion of the common stock controlled by him,” the company said in a Securities and Exchange Commission filing Wednesday morning. The casino mogul owns 12.1 million shares, or 11.8 percent of the company. The stake is valued at $2.2 billions of Tuesday night. ”If he elects to sell any such common stock, he will seek to conduct such sales in an orderly fashion and in cooperation with the company,” the company said.
Steve Wynn’s separation agreement with Wynn Resorts includes no “golden parachute” for the 76-year-old former chairman and CEO. In a filing with the Securities and Exchange Commission, the company confirmed that “Wynn is not entitled to any severance payment or other compensation from the company under the employment agreement.” According to proxy statements filed with the SEC, Wynn was paid $28.2 million in 2016. Wynn resigned on Feb. 6 over reports alleging sexual misconduct.
