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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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February 1, 2016
06:52 EDTWYNNMacau reports January casino revenue down 21.4% to 18.67B patacas
Macau's gaming bureau reported January casino revenue in the region fell 21.4% to 18.67B patacas. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN), and Melco Crown (MPEL).
January 29, 2016
09:35 EDTWYNNNevada reports Statewide December gaming win up 3.31% to $982.06M
The state also reports Las Vegas Strip December gaming win up 8.2% compared to last year at $600.75M compared to last year. Publicly traded companies in the space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
January 27, 2016
19:30 EDTWYNNOn The Fly: After Hours Movers
UP AFTER EARNINGS: Facebook (FB), up 11.4%... Mellanox (MLNX), up 6.4%... Paypal (PYPL), up 5%... Crown Castle (CCI), up 2.2%... Citrix (CTXS), up 2.4%... Las Vegas Sands (LVS), up 1%... SanDisk (SNDK), up 1%. ALSO HIGHER: Radius Health (RDUS), up 1.2% after announcing a clinical collaboration with Novartis (NVS)... LinkedIn (LNKD) is up 2.4%, Alphabet (GOOG, GOOGL) is up 2.2% and 2.6%, respectively, Netflix (NFLX) is up 1%, Amazon.com (AMZN) is up 2%, and Twitter (TWTR) is up marginally after Facebook reported quarterly results... MGM Resorts (MGM) is up 2.2% and Wynn Resorts (WYNN) is up 2.2%. DOWN AFTER EARNINGS: ServiceNow (NOW), down 16.5%... eBay (EBAY), down 12.8%... United Rentals (URI), down 9.7%... Juniper Networks (JNPR), down 9.6%... Silicon Graphics (SGI), down 9.1%... Discover Financial (DFS), down 7.4%... InvenSense (INVN), down 6.1%... Core Laboratories (CLB), down 4.3%... Vertex Pharmaceuticals (VRTX), down 1.1%. ALSO LOWER: Incyte (INCY), down 12.8% after announcing that it will halt the Phase 2 sub-study of ruxolitinib or placebo in combination with regorafenib after a planned interim analysis of the high CRP subgroup demonstrated that ruxolitinib plus regorafenib did not show a sufficient level of efficacy to warrant continuation.
19:17 EDTWYNNMacau-linked casino names climb after Las Vegas Sands posts quarterly results
Casino stocks with exposure to Macau are higher in after-hours trading after Las Vegas Sands reported fourth quarter sales and profit. WHAT'S NEW: Las Vegas Sands reported Q4 adjusted earnings per share of 62c and hold-normalized adjusted EPS of 64c, against analyst estimates of 65c, and Q4 revenue of $2.86B, below consensus expectations of $2.92B. The company reported Four Seasons Macau adjusted property Earnings Before Income Tax, Depreciation, and Amortization, or EBITDA, was down 29% to $65.8M in Q4, while Sands Macau Q4 adjusted property EBITDA was $51.3M. In Singapore, the Marina Bay Sands adjusted property EBITDA was $338.2M, and on a hold-normalized basis, adjusted property EBITDA was $374.8M. WHAT'S NOTABLE: Las Vegas Sands also increased its quarterly dividend to 72c per share from 65c per share. During the company's earnings conference call, CEO Sheldon Adelson said management has "steadfast confidence" in both the company and Macau's future. Adelson added that the company is optimistic in returning excess capital to shareholders through share repurchases and dividends. PRICE ACTION: Shares of Las Vegas Sands are higher by roughly 1% to $42.00 in after-hours trading. OTHERS TO WATCH: Following Las Vegas Sands' Q4 results, Wynn Resorts (WYNN) is up 2.44% and MGM Resorts (MGM) is up 2.21%.
14:07 EDTWYNNWynn Resorts says Macau contractor disputes assessment of damages
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