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Trading in Wynn Macau shares halted

February 06, 2018 at 08:31 pm EST

HONG KONG (Reuters) - Trade in shares of Wynn Macau Ltd (>> Wynn Macau Ltd) were suspended on Wednesday, the Hong Kong stock exchange said without providing further details.

Last week, Macau's gaming regulator met with representatives of U.S. mogul Steve Wynn in the Chinese controlled territory over claims in a newspaper report that he routinely subjected women who worked for him to unwanted sexual advances.

Wynn has denied the accusations published by the Wall Street Journal as "preposterous" and said they were instigated by his ex-wife to seek advantage in their divorce lawsuit.

The boards of Wynn Resorts (>> Wynn Resorts) and Wynn Macau have said they have formed a special committee to investigate the allegations of sexual harassment.

(Reporting by Donny Kwok; Editing by Edwina Gibbs)

Stocks treated in this article : Wynn Resorts, Wynn Macau Ltd

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
WYNN RESORTS, LIMITED	95.66 USD	-0.45%	-5.23%	10.77B
WYNN MACAU, LIMITED	7.18 HKD	-2.58%	-10.14%	4.92B
HONG KONG HANG SENG	16,224 PTS	-0.99%	-5.09%	-

Steve Wynn

Stephen Alan "Steve" Wynn (born January 27, 1942) is an American business magnate. He played a pivotal role in the 1990s resurgence and expansion of the Las Vegas Strip. His companies refurbished or built what are now widely recognized resorts in Las Vegas, including the Golden Nugget, The Mirage, Treasure Island, Bellagio, Wynn, and Encore.

Now, as Chairman of the Board and Chief Executive Officer of Wynn Resorts, Limited, Wynn has developed Wynn Las Vegas, which opened on April 28, 2005; Wynn Macau, which opened in September 2006; Encore at Wynn Las Vegas, which opened December 22, 2008; and Encore at Wynn Macau, which opened on April 21, 2010.

As of June 2014, Wynn is the 428th richest man in the world with a net worth of $4 billion. Wynn was raised in Utica, New York, and graduated from The Manlius School, a private boys' school east of Syracuse, New York, in 1959. Steve Wynn studied cultural anthropology and English literature at the University of Pennsylvania, where he was a member of the Sigma Alpha Mu fraternity.

In 1963, his father died of complications from open heart surgery in Minneapolis, leaving $350,000 of gaming debts, shortly before Wynn graduated from the University of Pennsylvania with a Bachelor of Arts degree in English Literature.

Career

Frontier and the Golden Nugget
Wynn took over running the family's bingo operation in Maryland. His success allowed him to invest in a small stake for the Frontier Hotel and Casino in Las Vegas, where he and his wife, Elaine, moved in 1967. Between 1968 and 1972 he also owned and operated a wine and liquor importing company. He managed to parlay his profits from a land deal in 1971 (the deal involved Howard Hughes and Caesars Palace) into a controlling interest in the landmark downtown casino, the Golden Nugget Las Vegas (he would later open the Golden Nugget Atlantic City in Atlantic City, New Jersey). Wynn renovated, revamped and expanded the Golden Nugget from a gambling hall to a resort hotel and casino with enormous success, in the process attracting a new upscale clientele to downtown Las Vegas. Frank Sinatra was a headliner at the Golden Nugget. Wynn maintains a relationship with Sinatra family, and named a restaurant at Encore “Sinatra”.

Source @ Wikipedia

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