The dispute between former CEO Steve Wynn and ex-wife Elaine over their ability to sell shares in Wynn Resorts is over.
This could free Steve to sell his stake if regulators require him to do so. A Nevada District Court has approved ending the agreement that each needed the other’s permission to sell shares, the Las Vegas Review-Journal reported.
Steve currently owns 11.4 million shares and Elaine 9.3 million, for a combined 21 per cent of the company. The decision ends the final lawsuit over interlocking agreements, including with Universal Entertainment.
Speculation will now turn to how Steve Wynn will sell his shares if regulators require him to do so because of the sexual misconduct allegations that forced his resignation.
Source: Fantini's Gaming Report
