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Stock Market & Financial Investment News

News Breaks
February 19, 2012
14:18 EDTWYNNWynn Resorts redeems Okada's stake with $1.9B promissory note
Pursuant to the finding of “unsuitability,” the Wnnn Resorts board has redeemed Aruze USA, Inc.’s 24 million Wynn Resorts’ shares. The terms of redemption are outlined in Wynn Resorts’ Articles of Incorporation, which have been in place since the Company’s inception. Following a finding of “unsuitability,” the Articles provide for redemption at “fair value” of the shares held by unsuitable persons to protect the Company’s gaming licenses. The Company engaged an independent financial advisor to assist in the fair value calculation and concluded that a discount to the current trading price was appropriate because of restrictions on most of the shares which are subject to the terms of an existing stockholder agreement. Pursuant to the Articles, the Company has issued a 10-year $1.9 billion promissory note in redemption of the shares. The note matures on February 18, 2022 and bears interest at the rate of 2% per annum.
News For WYNN From The Last 14 Days
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May 22, 2015
06:03 EDTWYNNStocks with implied volatility below IV index mean; OCR WYNN
Stocks with implied volatility below IV index mean; Omnicare (OCR) 7, Wynn Resorts (WYNN) 30 according to iVolatility.
May 20, 2015
08:37 EDTWYNNMorgan Stanley to hold a conference
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May 18, 2015
15:23 EDTWYNNWynn Resorts management to meet with JPMorgan
Meeting to be held in New York on May 21 hosted by JPMorgan.
May 15, 2015
10:01 EDTWYNNOn The Fly: Analyst Downgrade Summary
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05:43 EDTWYNNWynn Resorts downgraded to Equal Weight from Overweight at Barclays
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