elaine wynn

The Wynns, When Divorce Doesn't Mean Get Out Of My Company

Filed under: Wealth

Megarich couple on the outs could learn a lot from the Wynn divorce. Gambling mogul Steve Wynn and his ex-wife Elaine have split the shares in Wynn Resorts Ltd following what is their second divorce. She owns more than 11 million shares of the company, shares which were once communal property. This means that she and Steve Wynn each have around a nine percent share in the company. The Wynns already sold off some shares last summer. According to one article the move has made Aruze USA Inc. a subsidiary of a Japanese gaming company Wynn's largest shareholder with close to 20 percent of the shares.

Elaine Wynn indicated in an AP story that while she will still remain on the board and serve as a public face of the company she is shifting her focus to philanthropic efforts.

She is the chairwoman of national nonprofit Communities in Schools and she and Steve Wynn recently donated $1 million to nonprofit Three Square, to support the "BackPack for Kids" Program providing bags of food for needy children in the Clark County School District so they have something to eat over the weekend. The giant check bears both their names on the name of a foundation they started together.

While the marriages may not have worked out the Wynns still seem to have a good working relationship. Of course at one point the Blixseths were touted as having an amicable separation and we all know how that turned out. But Elaine Wynn has played a key role in determining the look and feel of Wynn resorts. She selected many of the retail shops and is partly responsible for the luxurious look and feel of the Wynn enterprises. Barring any unforeseen future squabbles, the company is likely stronger for continuing to keep her on the board and at least partly active in the organization.

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Steve Wynn In NYC, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

As we mentioned a little while back, the New York Observer recently reported that casino mogul Steve Wynn's New York City apartment was up for sale. Now thanks to a post from the Real Estalker, we found out that the listing has gone live. Wynn's Fifth Avenue palace is a two-bedroom apartment that measures around 3,500 square feet.

Steve and Elaine Wynn are getting a divorce (actually it's their second divorce, they were first married in 1963 but divorced in 1986 and then remarried five years later). Their full-floor apartment was once a four bedroom home but the renovation trimmed the number of rooms and expanded the spaces with an eye toward the grand and bland. The main living area was once the living room, formal dining room and library and has views over Central Park. The master suite was created from three bedrooms and has his and hers bathrooms.

As the floor plan reveals the resulting layout is a bit odd. The master bedroom has been placed next to the living room to take advantage of the best views but this means that the two bathrooms are sequential rather than side by side. The kitchen is directly opposite the second master bathroom and the dining room has been shoved to the back of the apartment right in front of the laundry and utility areas. The home has been redone in shades that design books likely refer to as variations of honey, taupe, caramel and rattan but mostly it's just beige, elegant, but beige and with a hotel's anonymity. Particularly curious is the kitchen which seems to have matching granite floors and counters. The apartment is priced at an outrageous $25 million but it seems doubtful that the Wynns will get their price.

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Gallery: Steve Wynn In NYC

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Wynn Divorce Could Be Costly For Company

by Deidre Woollard (RSS feed) —

The king and queen of Las Vegas are divorcing. Billionaire Las Vegas casino magnate Steve Wynn and wife Elaine filed for divorce last week. Wynn is the charismatic chief executive of Wynn Resorts which is behind the luxurious Wynn and Encore hotels on the Las Vegas Strip. Elaine Wynn is a director on the company's board and was recently nominated for another three year term on the board.

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.

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Jason Kidd Gives His Gold Medal To The Wynns

by Deidre Woollard (RSS feed) —

Filed under: Sports

Most people, when they get an Olympic gold medal hang onto it for dear life. Jason Kidd, who played on the Olympic basketball team however is giving his away. And to whom? No other than Elaine Wynn, wife of casino mogul Steve Wynn. It turns out that Kidd met Mrs. Wynn last year while he and the rest of the U.S. team were staying at the Wynn while training in Las Vegas. They got to talking over a banquet and Kidd promised that if the team won the gold he would give her his medal. No, he's not in debt to the house, Kidd says it's just a thank you because "the way they treated us at the Wynn, it was the least I could do." I'm hoping the Wynns display the medal at one of their hotels.

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