{"id":44827,"date":"2017-02-07T15:00:12","date_gmt":"2017-02-07T23:00:12","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=44827"},"modified":"2017-02-07T15:40:22","modified_gmt":"2017-02-07T23:40:22","slug":"steve-wynn-gave-7-million-to-charities-not-trump","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/","title":{"rendered":"Wynn Gave $7 Million to Charities, Not Trump"},"content":{"rendered":"

Steve Wynn donated $7 million-worth of company shares to good causes and not Donald Trump<\/a>, Wynn Resorts announced Monday.<\/p>\n

The revelation comes following speculation by some news outlets that the donation of stock, which appeared on a recent filing to the Securities and Exchange Commission, had been used to fund Trump\u2019s inauguration.<\/p>\n

\"Wynn\u2019s
The lion\u2019s share of Steve Wynn\u2019s $7 million charitable donation went to the University of Iowa\u2019s Wynn Institute for Vision Research. Wynn suffers from a hereditary eye condition that leads to tunnel vision and, ultimately, blindness. (Image: Matt Rourke\/Associated Press)<\/figcaption><\/figure>\n

Speculation had been fuelled by the timing of the donation, precisely one month before the event, which Wynn had helped to organize. Shortly after, Wynn was named finance director of the Republican National Committee. \u00a0 \u00a0<\/span><\/p>\n

But, in fact, Wynn\u2019s donation was entirely altruistic. Michael Weaver, senior vice president of marketing for Wynn Resorts, told the Las Vegas Review-Journal his boss gave $5 million in shares to the University of Iowa\u2019s Wynn Institute for Vision Research, while $1.7 million was donated to a fund for charitable distributions, mainly in Las Vegas.<\/p>\n

\n

\u201cReports that the funds were used for political contributions are false,\u201d Weaver said.<\/strong><\/p>\n<\/blockquote>\n

Wynn suffers from Retinitis Pigmentosa, a degenerative genetic disease that leads to tunnel vision and, eventually, blindness. In 2013 he donated $25 million to the Institute of Vision Research which was later renamed in his honor.\u00a0 \u00a0 \u00a0<\/span><\/p>\n

Wynn vs Okada<\/b><\/h2>\n

Meanwhile, Wynn\u2019s lawyers were back in court on Monday for the latest phase in the longstanding battle between Wynn Resorts and its former majority shareholder, the Japanese Pachinko magnate Kazuo Okada.<\/p>\n

Okada owned 21 percent of Wynn Resorts but was ousted from the board in 2012 for breach of fiduciary duty, his shares forcibly redeemed. Wynn Resorts sued Okada on the grounds that he allegedly made illegal payments to the Philippine government in pursuit of a gambling license for his solo project that became the Okada Manila, which opened in December.<\/p>\n

Wynn Resorts alleged that his actions had put the licenses of its properties around the world in jeopardy.<\/p>\n

Okada counter-sued to undo the redemption of his shares and, just to confuse matters, Wynn\u2019s ex-wife, Elaine Wynn, joined the suit against Wynn Resorts. She\u2019s trying to wrestle back control of the shares she owns but agreed not to sell, as part of a deal struck when Okada was ousted.<\/p>\n

Confidential Documents <\/b><\/h2>\n

On Monday lawyers for Wynn Resorts asked the Nevada Supreme Court to overturn two orders that would force the company to give up documents to Okada.<\/p>\n

Both these documents were instrumental in the company\u2019s decision to oust the 70-year-old Japanese. One is a confidential transcript of conversations between a law firm and Wynn<\/a> shareholders, the other, a report prepared on Okada\u2019s business practises by a former federal judge behalf of Wynn Resorts.\u00a0 \u00a0<\/span><\/p>\n

Wynn\u2019s lawyers argue that the ruling to turn the documents over goes against Nevada\u2019s \u201cbusiness judgment rule\u201d in which directors are presumed to act in good faith.<\/p>\n","protected":false},"excerpt":{"rendered":"

Steve Wynn donated $7 million-worth of company shares to good causes and not Donald Trump, Wynn Resorts announced Monday. The revelation comes following speculation by some news outlets that the donation of stock, which appeared on a recent filing to the Securities and Exchange Commission, had been used to fund Trump\u2019s inauguration. Speculation had been […]<\/p>\n","protected":false},"author":42,"featured_media":44828,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nSteve Wynn Gave $7 Million to Charities, Not Trump<\/title>\n<meta name=\"description\" content=\"Steve Wynn gave a $7 million stock donation that did not go to Donald Trump\u2019s inauguration, company says. Meanwhile, a development in the Wynn v Okada case.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steve Wynn Gave $7 Million to Charities, Not Trump\" \/>\n<meta property=\"og:description\" content=\"Steve Wynn gave a $7 million stock donation that did not go to Donald Trump\u2019s inauguration, company says. Meanwhile, a development in the Wynn v Okada case.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-07T23:00:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-02-07T23:40:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/920x920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"920\" \/>\n\t<meta property=\"og:image:height\" content=\"614\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/\",\"url\":\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/\",\"name\":\"Steve Wynn Gave $7 Million to Charities, Not Trump\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/920x920.jpg\",\"datePublished\":\"2017-02-07T23:00:12+00:00\",\"dateModified\":\"2017-02-07T23:40:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Steve Wynn gave a $7 million stock donation that did not go to Donald Trump\u2019s inauguration, company says. Meanwhile, a development in the Wynn v Okada case.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/920x920.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/920x920.jpg\",\"width\":920,\"height\":614,\"caption\":\"The lion\u2019s share of Steve Wynn\u2019s $7 million charitable donation went to the University of Iowa\u2019s Wynn Institute for Vision Research. Wynn suffers from a hereditary eye condition that leads to tunnel vision and, ultimately, blindness. (Image: Matt Rourke\/Associated Press)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Wynn Gave $7 Million to Charities, Not Trump\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\",\"name\":\"Casino.org Staff Writer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"caption\":\"Casino.org Staff Writer\"},\"url\":\"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Steve Wynn Gave $7 Million to Charities, Not Trump","description":"Steve Wynn gave a $7 million stock donation that did not go to Donald Trump\u2019s inauguration, company says. Meanwhile, a development in the Wynn v Okada case.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Steve Wynn Gave $7 Million to Charities, Not Trump","og_description":"Steve Wynn gave a $7 million stock donation that did not go to Donald Trump\u2019s inauguration, company says. Meanwhile, a development in the Wynn v Okada case.","og_url":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2017-02-07T23:00:12+00:00","article_modified_time":"2017-02-07T23:40:22+00:00","og_image":[{"width":920,"height":614,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/920x920.jpg","type":"image\/jpeg"}],"author":"Casino.org Staff Writer","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Casino.org Staff Writer","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/","url":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/","name":"Steve Wynn Gave $7 Million to Charities, Not Trump","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/920x920.jpg","datePublished":"2017-02-07T23:00:12+00:00","dateModified":"2017-02-07T23:40:22+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77"},"description":"Steve Wynn gave a $7 million stock donation that did not go to Donald Trump\u2019s inauguration, company says. Meanwhile, a development in the Wynn v Okada case.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/920x920.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/920x920.jpg","width":920,"height":614,"caption":"The lion\u2019s share of Steve Wynn\u2019s $7 million charitable donation went to the University of Iowa\u2019s Wynn Institute for Vision Research. Wynn suffers from a hereditary eye condition that leads to tunnel vision and, ultimately, blindness. (Image: Matt Rourke\/Associated Press)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/steve-wynn-gave-7-million-to-charities-not-trump\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Wynn Gave $7 Million to Charities, Not Trump"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77","name":"Casino.org Staff Writer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","caption":"Casino.org Staff Writer"},"url":"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/44827"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=44827"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/44827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/44828"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=44827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=44827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=44827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}