August 18, 2009

Steve, Elaine Wynn sell 2 million shares

Wynn Resorts says Las Vegas casino mogul Steve Wynn and his wife, Elaine, sold 2 million shares of common stock in the company as part of their pending divorce.

The sale took place Aug. 14 at $57 per share and represented less than 10 percent of the couple's holdings in the company, which includes the Wynn Las Vegas, Encore and Wynn Macau properties.

The shares were sold to provide liquidity in anticipation of the change in their marital status, the company said in a written statement Tuesday.

The Wynns filed for divorce in March.

Wynn Resorts traded above $100 per share much of last year.