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Steve Wynn sells stake in company he founded, Macau casino Galaxy buys in

Mimi Sabreena 3:07:00 PM Informasi

HONG KONG/BENGALURU (March 23): Steve Wynn, the former chief executive of Wynn Resorts Ltd, has disposed his entire 11.8% stake in the firm for US$2.1 billion in a dramatic exit of the casino and hotel enterprise he founded over 16 years ago.

In an unexpected separate move, Macau casino operator Galaxy Entertainment said it has agreed to buy 5.3 million primary shares of Wynn Resorts at US$175 per share, giving them around a 5% stake in the operator which has resorts in Las Vegas and Macau.

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