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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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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).
August 18, 2015
07:13 EDTWYNNMacau GGR poised to sink 37% in August, says Bernstein
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