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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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September 2, 2014
15:04 EDTWYNNWynn Resorts breaks important support, levels to watch
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14:16 EDTWYNNMacau casinos retreat after revenue downturn accelerates
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09:41 EDTWYNNActive equity options trading on open
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07:02 EDTWYNNMacau reports August casino revenue down 6.1% to 28.88B patacas
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August 28, 2014
09:32 EDTWYNNNevada reports July statewide gaming win up 0.65% to $931.8M
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August 26, 2014
07:26 EDTWYNNMacau estimates lowered at Morgan Stanle
Morgan Stanley lowered Macau 2014 growth estimates to 6% from 12% and 2015 to 11% from 12.5% due to expectations for VIP trends to continue to deteriorate given the China macro impact and notes slowing mass growth rates.
August 21, 2014
06:54 EDTWYNNWynn unit to spend $20M on Macau casinos design work, Macau Business says
Wynn Resorts' Wynn Macau unit is slated to spend $20.13M this year on design work for its casinos, Macau Business reports. This figure is double the amount the company originally planned. Reference Link

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