Industry
June 15, 2022
Wynn Resorts Provides Wynn Macau with a $500M Loan
Wynn Resorts has vowed to continue investing in Macau despite the hurdles the region is facing. To prove this, the gambling giant loaned $500 million to its Wynn Macau arm, helping it recover from COVID-19. Wynn Resorts Lent $500M to Wynn Macau Wynn Macau will use the money to bolster its business and mitigate the […]
Legal
May 26, 2022
SJC Orders Superior Court to Revisit the Everett Case
FBT Everett Realty has been trying to sue the Massachusetts gambling regulator for several years. The local Supreme Judicial Court has now intervened, ordering a lower court to reexamine the situation. FBT Everett Claims the Regulator Unjustly Decreased the Price The situation began in 2016 when FBT Everett agreed to sell some land to Wynn […]
Industry
May 23, 2022
Wynn Resorts Executives Exchange Salary for Shares
Several members of Wynn Resorts’ leadership team have opted to get a reduced salary in exchange for shares in the company. This is yet another effort to boost Wynn’s damaged stock. Executives Pick Shares Over Cash The most notable executive to reduce his salary was none other than Craig Billings, Wynn Resorts’ chief executive officer. […]
Industry
May 17, 2022
Carolina Panthers’ Owner Invested in Las Vegas Sands and Wynn Resorts
David Tepper, the owner of the Carolina Panthers, expanded the equity portfolio of Appaloosa Management, his personal hedge fund. The NFL franchise owner invested in two gambling companies, namely Las Vegas Sands and Wynn Resorts. Appaloosa Expects the Share Prices to Go Up Tepper’s investments in Sands and Wynn Resorts were the only new equity […]
Casino
May 11, 2022
Wynn Macau Ltd Feels the Heat of Lockdowns and Missing VIPs
Wynn Macau Ltd will have to face the facts, and the facts are that the long-term revenue has been impacted by the spate of regulatory changes introduced in the special administrative region. While the company has been more than happy to comply with all existing regulatory prerequisites, the return to profitability will be a somewhat […]
Casino
May 10, 2022
Wynn’s UAE Casino Resort Consortium Hired HKS Architects
The consortium of Wynn Resorts, RAK Hospitality and Marjan selected HKS Architects as its design consultant for the integrated resort in the United Arab Emirates (UAE). Opportunities Spanning Far Beyond Tourism The luxury resort and casino that will be constructed in Ras Al Khaimah on the manmade island Al Marjan will be Wynn Resorts’ first […]
Business
May 4, 2022
Wynn Resorts to Renovate the Wynn Tower Suites in Las Vegas
Wynn Resorts, a famous American casino and resort corporation, has announced that it will put millions into the renovation of one of its signature hospitality locations – the Wynn Tower Suites on the Las Vegas Strip. The Wynn Tower Suites Are Being Renovated The corporation is currently working on the overhaul, hoping to have it […]
Business
February 16, 2022
Encore Boston Harbor the Latest to Become an REIT Property
Encore Boston Harbor is the latest gaming property to fall victim to the real estate investment trust (REIT) takeover. Wynn Resorts will sell the Massachusetts casino’s land and real property to Realty Income for $1.7 billion in cash. As is standard in REIT transactions, Wynn will continue to operate the property. Wynn Unloads Encore Real […]
Legal
February 10, 2022
Former Wynn Resorts Executive Found Guilty of Bribing and Fraud
Former Wynn Resorts executive has been sentenced to a year in prison on Wednesday after being convicted of bribing college officials to get his daughter to study at a top university. Gamal Abdelaziz, 64, was part of the massive college admissions scandal labeled “Varsity Blues.” Abdelaziz Paid $300,000 to Bribe College Officials Per details, Abdelaziz […]
Legal
February 10, 2022
Kazuo Okada Ordered to Pay $50M Legal Fee Over Wynn Resorts Fight
Kazuo Okada received some good news last month when a court in the Philippines determined that he hadn’t committed fraud against a former business partner. That saved him over $3 million. However, his joy was short-lived. He’s now on the hook for $50 million to a law firm in the US. That payment is for […]