Elaine\u2019s lawsuit accuses Mr. Wynn of indulging in \u201creckless, risk-taking behavior\u201d that may harm the company and expose it to damaging litigation.<\/p>\n
\u201cElaine Wynn wants what is rightfully hers,\u201d said Robert Siegfried,\u00a0a spokesman for the once-missus. \u201cShe is extremely concerned based upon her well-founded knowledge of the company about the lack of corporate governance that has been rampant.\u201d<\/p><\/blockquote>\n
Steve Wynn, not known to shy from battle, shot back at his ex-wife via an interview with The Wall Street Journal <\/em>on Monday.<\/p>\n\u201cThere will be comeuppance for that as you will see shortly,\u201d he said. \u201cI\u2019ve tried everything under the sun to help out, and nothing has worked. That\u2019s not unusual in the world of divorces.\u201d<\/p>\n
Controlling Stakes<\/strong><\/h2>\nIn an official statement, Wynn Resorts added its two cents to the warfare.<\/p>\n
\u201cThis lawsuit is filled with lies and distortions and is an embarrassment to Ms. Wynn and her counsel. This is simply an attempt to inflict personal pain on Mr. Wynn. Ms. Wynn is a disappointed ex-wife who is seeking to tarnish the reputation of Wynn Resorts and Steve Wynn and their daughters.\u201d<\/p>\n
Steve says that he cannot let Elaine out of the 2010 settlement, because he would risk ceding control of the company, which would be damaging to its future and the interests of shareholders.<\/strong><\/p>\nMs. Wynn owns 9.8 percent of Wynn Resorts, while Mr. Wynn now owns 11.8 percent. But since the 2012 ousting of major shareholder and co-founder Kazuo Okada, who had also ceded control to Steve, two investment firms, Northern Cross LLC and South Easter Asset Management, now own more of the company than the two Wynns do together.<\/p>\n
If this were a reality show, we’d be setting the DVR right now.<\/p>\n","protected":false},"excerpt":{"rendered":"
Casino mogul Steve Wynn, 74, and his first wife Elaine, 73, are engulfed in a full-blown War of the Roses over the Wynn Resorts empire. Ex-wife Elaine is suing the mogul in an attempt to wrestle back control of the stock in the multibillion-dollar company. And in a war between two Wynns, someone has to […]<\/p>\n","protected":false},"author":42,"featured_media":34743,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13,18],"tags":[],"acf":[],"yoast_head":"\n
Wynn-Wynn Face Off Will Be No Win for One Wynn in Wynn Resorts Share Battle<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n