Steve Wynn Cuts Stake In Wynn Resorts

(RTTNews) - Steve Wynn cut his stake in the casino company, he founded after settling an acrimonious, six-year court fight with his ex-wife.

Wynn, 76, sold 4.10 million shares in Wynn Resorts Ltd. (WYNN) at $180.00 per share, according to a regulatory filing Thursday. The sale brings his stake down to 7.8 percent from 12 percent.

As previously disclosed, Mr. Wynn intends to sell all or a portion of the Common Stock controlled by him pursuant to one or more registered public offerings, in the open market in transactions or in privately negotiated transactions. 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. No assurance can be provided that Mr. Wynn will elect to sell Common Stock, or the timing or terms of any such sale.