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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 3, 2015
13:45 EDTWYNNWynn Resorts estimates lowered on Macau weakness at Argus
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September 2, 2015
10:00 EDTWYNNOn The Fly: Analyst Upgrade Summary
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08:22 EDTWYNN, WYNNWynn Resorts upgraded to Buy from Outperform at CLSA
CLSA upgraded Wynn Resorts to Buy from Outperform based on share underperformance and lowered its price target to $104 from $117 on shares.
September 1, 2015
07:03 EDTWYNNMacau reports August casino revenue down 35.5% to 18.62B patacas
Information on monthly gross revenue from games of fortune published on Macau government website. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).
August 28, 2015
09:34 EDTWYNNNevada reports July statewide gaming win down 0.96% to $922.89M
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August 27, 2015
06:03 EDTWYNNWynn Resorts implied volatility of 63 at upper end of index
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August 21, 2015
07:17 EDTWYNNMacau developments negative, says Wells Fargo
Wells Fargo says that its checks on Macau for August indicate that the region's revenues are trending flat to down this month. According to Wells, in August the region's revenues are historically up 4% versus July. The firm adds that comments by Macau casino owner Galaxy suggest that the market has not yet bottomed. Wells believes that the market has not yet stabilized and remains neutral on Macau stocks, although it remains upbeat on their long-term outlook. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).

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