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Stockholders agreement involving Steve Wynn, ex-wife invalid

Posted at 5:46 PM, Mar 15, 2018
and last updated 2018-03-15 20:46:06-04

An agreement involving embattled casino mogul Steve Wynn and his ex-wife that has kept her from controlling her stock in Las Vegas-based Wynn Resorts has been deemed invalid.

A state judge in Las Vegas on Wednesday signed off on a stipulation and order stating that the 2010 stockholders agreement is no longer enforceable. The move opens the possibility for Steve Wynn and Elaine Wynn to sell their stock in the casino operating company.

The agreement is part of a civil case that has been in litigation since 2012.

Steve Wynn's shareholdings are about 12 percent, while Elaine Wynn's are about 9 percent.

Steve Wynn resigned as chairman and CEO of Wynn Resorts last month amid sexual misconduct allegations, which he has vehemently denied. He faces restrictions in selling his stock based on his termination agreement.