New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
November 26, 2014
09:35 EDTWYNNNevada reports October statewide gaming win down 4.26% to $913.64M
Subscribe for More Information
November 21, 2014
05:41 EDTWYNNStocks with implied volatility movement; ARCP WYNN
Subscribe for More Information
November 20, 2014
14:54 EDTWYNNWynn Resorts probed by several agencies on money laundering controls, WSJ says
Subscribe for More Information
14:42 EDTWYNNWynn Resorts probed by IRS over money-laundering controls, DJ says
Dow Jones cites sources on Wynn being probed and notes that the company said it is not aware of any investigation.
November 13, 2014
14:05 EDTWYNNNew Jersey reports Atlantic City gaming win down 4.4% to $207.23M
Subscribe for More Information
08:56 EDTWYNNMacau to ask for eased restrictions on RMB conversion, Macau Business Daily says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use