Steve Wynn Plans To Sell All Or Part Of His 12% Holding In Wynn Resorts

(RTTNews) - Steve Wynn plans to sell up to his entire $2.2 billion stake in the casino company he founded, a week after settling an acrimonious court fight with his ex-wife that freed each of them to do as they wish with their share of the family fortune. Wynn plans to sell all or part of his 12 percent holding in Wynn Resorts Ltd (WYNN).

Wynn Resorts said in a regulatory filing that 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.