{"id":44573,"date":"2017-02-02T15:00:01","date_gmt":"2017-02-02T23:00:01","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=44573"},"modified":"2017-02-03T02:05:46","modified_gmt":"2017-02-03T10:05:46","slug":"did-steve-wynn-donate-7-million-of-wynn-resorts-stock-to-fund-trump-inauguration","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/did-steve-wynn-donate-7-million-of-wynn-resorts-stock-to-fund-trump-inauguration\/","title":{"rendered":"Did Steve Wynn Donate $7 Million of Wynn Resorts Stock to Fund Trump Inauguration?"},"content":{"rendered":"

Steve Wynn gave away $7 million worth of shares in Wynn Resorts to an unknown party one month before Donald Trump\u2019s inauguration<\/a>, according to a filing with\u00a0the Securities and Exchange Commission.<\/p>\n

\"Steve
Steve Wynn and Donald Trump are old friends and a SEC filing suggests Wynn may have helped fund Trump\u2019s inauguration with Wynn Resorts shares. (Image: forbes.com)<\/figcaption><\/figure>\n

The transaction was listed as a \u201ccharitable gift,\u201d prompting speculation that Wynn, who declared he was sitting on the fence during the presidential election campaign, ultimately put his money behind his old friend once the votes had been counted.<\/p>\n

Donors to Trump\u2019s inauguration raised $90 million and Wynn was among a group chosen by Trump to help organize the\u00a0events on January 20th.<\/p>\n

On Tuesday, Wynn was made finance chair<\/a> of the Republican National Committee (RNC), and a day later, it was announced that the RNC\u2019s political director, Christopher Carr, was to become Wynn Resorts\u2019 newest senior vice president.<\/p>\n

In a statement released Wednesday, the company said Carr would manage its government relations, charitable giving, community development initiatives, and the expansion of the Wynn Employee Foundation.<\/p>\n

No Big Deal?\u00a0<\/b><\/h2>\n

This apparent cosiness between Wynn and the new administration belies the casino mogul\u2019s frustration with both candidates in the run-up to the election. In August last year, he told the Financial Times<\/i> he was waiting for a \u201creally intelligent discussion.\u201d<\/p>\n

\n

\u201cI\u2019m craving a more substantial conversation, politically and publicly, about the economy of the US and what it really takes to make a better life for its citizens,\u201d Wynn declared.\u00a0\u201cThere\u2019s so much misinformation being put out that it\u2019s also frustrating.”<\/p>\n<\/blockquote>\n

Wynn Las Vegas spokesman Michael Weaver did not\u00a0comment on whether the stock was donated to the Trump inauguration, although there is no suggestion that, if it were, it would not be\u00a0legal.<\/p>\n

Bob Biersack, a senior fellow at the Center for Responsive Politics in Washington, DC, and a veteran of the Federal Elections Commission, told the Las Vegas<\/em>\u00a0Review-Journal<\/i> there is no reason why company stock cannot be donated to political organizations.<\/p>\n

\u201cThere generally isn\u2019t a difference between stock or other assets and a more \u2018normal\u2019 cash contribution,\u201d said Biersack.<\/p>\n

Elaine Wynn Lawyers Barred<\/b><\/h2>\n

Speaking of Wynn Resorts\u2019 stock, Steve Wynn\u2019s ex-wife, Elaine, was dealt a blow this week in her ongoing legal battle to regain control of her equity in the company. A Nevada judge barred her legal team from court while she decides whether to disqualify them altogether.<\/p>\n

As part of the amicable divorce settlement in 2010, Elaine signed a provision stating she would not sell her shares in the company. But relations have deteriorated since, and she is now trying to wrestle back control of her stock.<\/p>\n

According to Bloomberg, it\u2019s alleged that Elaine\u2019s lawyers failed to disclose to the court and Wynn Resorts\u2019 lawyers that they possessed proprietary information about Steve Wynn, which his ex-wife had downloaded on her computer.<\/p>\n

\n

“I\u2019ve had multiple stories every time I\u2019ve dealt with this information,” District Judge Elizabeth Gonzalez said.\u00a0“The fact that the story changes whenever some new information come up gives me a high level of concern, which is why I am trying to preclude Elaine Wynn\u2019s lawyer from affirmatively reaching out to anyone.”<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Steve Wynn gave away $7 million worth of shares in Wynn Resorts to an unknown party one month before Donald Trump\u2019s inauguration, according to a filing with\u00a0the Securities and Exchange Commission. The transaction was listed as a \u201ccharitable gift,\u201d prompting speculation that Wynn, who declared he was sitting on the fence during the presidential election […]<\/p>\n","protected":false},"author":42,"featured_media":44577,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,61,1],"tags":[],"acf":[],"yoast_head":"\nDid Steve Wynn Donate $7 Million of Wynn Stock to Fund Inauguration?<\/title>\n<meta name=\"description\" content=\"Steve Wynn\u2019s mysterious donation of Wynn Resorts\u2019 shares sets tongues wagging. 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