Wynn Divorce Could Be Costly For Company
This is a second divorce for the Wynns who were first married in 1963 but divorced in 1986 and then remarried five years later. Elaine Wynn has had an influential role in the organization especially in helping decide which stores would be in the Wynn Resorts' retail spaces. Rumor has it that Steve Wynn is involved with another woman, British socialite Andrea Danenza Hissom.
Steve and Elaine Wynn each own more than 24 million shares in Wynn Resorts. Those shares have slumped in the past few months but are still worth around $460 million. The divorce could be one of the costliest in the U.S. and a great deal depends on just how amicable it is. If Wynn needs to buy his wife out that could have a serious impact on a company that is already affected by the tourism slump in Las Vegas.