WYNN RESORTS, LIMITED (NASDAQ:WYNN) Files An 8-K Regulation FD DisclosureItem 7.01
On February9, 2018, Wynn Results, Limited (the “Company”) was informed that counsel for Mr.StephenA. Wynn submitted a letter (the “Letter”) to the parties in a lawsuit which is pending in the United States District Court for the District of Nevada in which Elaine P. Wynn has asserted certain cross claims against Mr. Wynn. The Letter states that, in light of the significant changed circumstances triggered by Mr.Wynn’s resignation as the Chief Executive Officer and Chairman of the Board of the Company and of Wynn Macau, Limited, Mr.Wynn no longer contests that the Amended and Restated Stockholder Agreement, dated January6, 2010, by and among Stephen A. Wynn, Elaine P. Wynn and Aruze USA, Inc. (the “2010 Stockholders Agreement”) is invalid and unenforceable. The Letter further states that, while Mr.Wynn does not agree with Ms.Wynn’s bases for claiming the 2010 Stockholders Agreement is invalid and unenforceable, he does agree that it no longer binds either party and that, as such, it is Mr.Wynn’s position that certain of the cross claims asserted by Ms.Wynn in the pending case are now moot. A copy of the Letter is attached hereto and furnished as Exhibit 99.1. No assurance can be provided as to the outcome of such proceedings.
Mr.Wynn has informed the Company that regardless of whether the Stockholders Agreement is in effect, he has no immediate plans to sell shares that he owns and that if he elects to sell any such shares over time, he will seek to conduct such sales in an orderly fashion.
This Form 8-K contains forward-looking statements that are subject to a number of risks and uncertainties that could cause actual results to differ materially from those we express in these forward-looking statements, including, but not limited to, the risks related to the litigation described above and the 2010 Stockholders Agreement as described in the Company’s Annual Report on Form 10-K for the year ended December31, 2017 (including under Item8. “Financial Statements and Supplementary Data – Note17 Commitments and Contingencies,” Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources,” and Item1A. “Risk Factors – Risks Related to Share Ownership and Stockholder Matters”) and the Company’s other periodic reports filed with the Securities and Exchange Commission. The Company is under no obligation to (and expressly disclaims any such obligation to) update or revise its forward-looking statements as a result of new information, future events or otherwise.
| Item 7.01 | Financial Statements and Exhibits. |
(d) Exhibits.
WYNN RESORTS LTD ExhibitEX-99.1 2 d479612dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 VIA EMAIL February 9,…To view the full exhibit click here
About WYNN RESORTS, LIMITED (NASDAQ:WYNN)
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations. In Macau, it owns interest in Wynn Macau, Limited and operates Wynn Macau and Encore at Wynn Macau. Its integrated Macau resort of Wynn Macau and Encore at Wynn Macau features approximately 284,000 square feet of casino space with over 460 table games and over 710 slot machines. In Las Vegas, Nevada, it owns and operates Wynn Las Vegas and Encore at Wynn Las Vegas. Its integrated Las Vegas resort of Wynn Las Vegas and Encore at Wynn Las Vegas features approximately 186,000 square feet of casino space with over 230 table games and approximately 1,870 slot machines. In addition, the Company is developing an integrated casino resort in Everett, Massachusetts.
