Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Wynn Resorts    WYNN

WYNN RESORTS

(WYNN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Wynn Resorts, Limited : Law Offices of Howard G. Smith Announces Investigation of Wynn Resorts Ltd.

share with twitter share with LinkedIn share with facebook
share via e-mail
03/22/2012 | 04:05pm EDT

Law Offices of Howard G. Smith announces that it is investigating potential claims against Wynn Resorts Ltd. ("Wynn Resorts" or the "Company") (NASDAQ:WYNN) and its board of directors concerning possible breaches of fiduciary duties by the Company or its fiduciaries. Wynn Resorts, together with its subsidiaries, engages in the development, ownership and operation of destination casino resorts.

The investigation is related to a $135 million donation in May 2011 from Wynn Macau - a majority-owned subsidiary of the Company - to the University of Macau Development Foundation, and allegations that certain officers and directors of Wynn Resorts violated the Foreign Corrupt Practices Act by providing improper monetary benefits to government officials in Macau.

On January 11, 2012, Kazuo Okada, a former Wynn Resorts board member and its largest shareholder, filed a lawsuit in the District Court of Clark County, Nevada, to compel the Company to produce for inspection certain books and records regarding the donation. The lawsuit claims the donation was improper because: (1) the Foundation is connected to government officials who regulate gambling in Macau; (2) the Foundation sits on government-owned land; and (3), the final installment of the payment is due in 10 years - when Wynn Resorts' Macau gaming license is set to expire.

On February 8, 2012, the Company received a letter from the Securities and Exchange Commission requesting, in connection with an inquiry by the SEC, that the Company preserve information relating to the University of Macau donation, any donations to other educational charitable institutions, including the University of Macau Development Foundation, and the Company's casino or concession gaming licenses or renewals in Macau.

If you purchased shares of Wynn Resorts and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on WYNN RESORTS
03/27WYNN RESORTS : Distributes Financial Aid, Food and Essential Supplies To Local M..
PR
03/24WYNN RESORTS : Statement Regarding Reduction of Executive Salaries
BU
03/18Bond Market Cracks Open for Blue-Chip Companies -- Then Slams Shut
DJ
03/17Investors Hunt for Corporate-Bond Winners in Coronavirus Economy -- Update
DJ
03/17Investors Hunt for Corporate-Bond Winners in Coronavirus Economy
DJ
03/16WYNN RESORTS LTD : Regulation FD Disclosure, Financial Statements and Exhibits (..
AQ
03/16Gambling limitations, elderly shopping hours; coronavirus changes business
RE
03/15WYNN RESORTS : to Temporarily Close Wynn Las Vegas
PR
03/13MGM RESORTS INTERNATIONAL : closes clubs to combat spread of coronavirus
AQ
03/13JUDGE : Woman defamed Steve Wynn with police report of rape
AQ
More news
Financials (USD)
Sales 2020 6 187 M
EBIT 2020 779 M
Net income 2020 201 M
Debt 2020 7 997 M
Yield 2020 6,04%
P/E ratio 2020 26,1x
P/E ratio 2021 10,1x
EV / Sales2020 2,35x
EV / Sales2021 1,94x
Capitalization 6 524 M
Chart WYNN RESORTS
Duration : Period :
Wynn Resorts Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WYNN RESORTS
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 124,32  $
Last Close Price 61,10  $
Spread / Highest target 196%
Spread / Average Target 103%
Spread / Lowest Target -39,4%
EPS Revisions
Managers
NameTitle
Matthew O. Maddox Chief Executive Officer & Director
Craig S. Billings President, Chief Financial Officer & Treasurer
Philip Glen Satre Non-Executive Chairman
Patricia Mulroy Independent Director
Clark T. Randt Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
WYNN RESORTS-56.00%6 760
LAS VEGAS SANDS CORP.-39.02%32 150
MGM RESORTS INTERNATIONAL-63.36%6 006
GENTING SINGAPORE LIMITED2.73%5 614
SJM HOLDINGS LIMITED5.85%4 869
KANGWON LAND, INC.11.28%3 332