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Stock Market & Financial Investment News

News Breaks
February 4, 2013
09:06 EDTWYNNWynn Resorts says Nevada gaming regulator finds Okada allegations 'unfounded'
Wynn Resorts reported recent developments for the company and its shareholders in relation to allegations made against Wynn Resorts by Kazuo Okada. First, the Nevada Gaming Control Board has informed Wynn Resorts that it has concluded its investigation of allegations made by Okada against Wynn Resorts regarding an allegedly improper donation made to the University of Macau by Wynn Macau Ltd., and determined that Okada’s allegations are unfounded. Second, the United States District Court of Nevada granted Wynn Resorts’ motion to dismiss a shareholder derivative action against the Company and members of its Board of Directors based on the Macau donation. The Court ruled there was insufficient legal basis for the case to proceed. Third, Institutional Shareholder Services, a proxy advisory firm, has issued a report recommending that shareholders of Wynn Resorts vote to remove Okada from the Board of Wynn Resorts at a special meeting of shareholders to be held on February 22. Wynn said that in its report, ISS concluded, “In light of the material risk that Okada's directorship poses to the Company's ability to receive gaming licenses in new jurisdictions and maintain its licenses for current ones, ISS recommends that shareholders vote FOR the removal of Mr. Okada as a director of the Company.”
News For WYNN From The Last 14 Days
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September 18, 2014
06:47 EDTWYNNMacau stocks getting closer to bottom, says JPMorgan
JPMorgan says most Macau stocks have a 2:1 upside/downside ratio, making the risk/rewards favorable. The firm prefers MGM Resorts (MGM) and Wynn Resorts (WYNN) over Melco Crown (MPEL) and Las Vegas Sands (LVS) in the near-term, but keeps Overweight ratings on all four names. JPMorgan lowered its price target for Las Vegas Sands to $69 from $83, for Melco to $31 from $40, for MGM to $30 from $31 and for Wynn to $210 from $239. The firm says the stocks are getting closer to a bottom.
September 16, 2014
14:29 EDTWYNNMassachusetts votes to award license to Wynn Resorts
The Massachusetts Gaming Commission stated on its official Twitter feed that it voted 3-1 to award the Region A license to Wynn. Reference Link
13:52 EDTWYNNMacau casino owners drop after negative note from analyst
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11:22 EDTWYNNMorgan Stanley sees negative revisions to Macau consensus estimates
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September 12, 2014
14:07 EDTWYNNNew Jersey reports August Atlantic City gaming win up 2.3% to $305M
New Jersey reports total Gaming Win from Atlantic City casino hotels and Internet gaming operations was $305M in August, compared to $298.1M in the same month of 2013 including discontinued operators Atlantic Club and Showboat, reflecting a 2.3% increase. Total Gaming Win from the current operators of casino hotels open for the entire month of August and Internet gaming operations was $289.9M in August. Internet gaming win was $10.5M in August, consisting of $2.2M in peer-to-peer win and $8.3M in other authorized games. As of August 31, 431,617 Internet gaming accounts have been created, up 6.5% from the 405,390 accounts as of July 31. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
September 10, 2014
09:04 EDTWYNNLas Vegas Sands and Wynn Resorts recommended at Goldman
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