Wynn Divorce May Mint New Billionaire - Thursday 21st of January 2010

It might be time to carve out some room for a new billionaire on The Forbes 400.

Steve and Elaine Wynn, Las Vegas’ long-reigning power couple, have finalized their divorce, the Associate Press reported today, citing a divorce decree filed in Las Vegas family court on January 5th.

It is the Wynns’ second divorce: they met in college, married in 1963, and broke up in 1986. They reconciled five years later.

News of the split has been public for months, fueled at first by reports in early 2009 that Steve Wynn was dating a younger British woman. The details of their split were later spelled out in a series of company filings that reveal the intricacies of divvying up a fortune worth nearly $4 billion at its height. A January 5th SEC filing shows Elaine P. Wynn, a director at Wynn Resorts since 2002, receiving 11,076,708 shares of the casino company in connection with the couple’s divorce settlement.

Those shares, once held as “community property,” are worth $795 million at the company’s current share price of $72, adding to the $114 million the Wynns realized from stock sales in mid-August.

Some, if not all, of that $114 million will go to Elaine, judging by an August press release, which says the shares “were sold to provide liquidity in anticipation of the change in their marital status.” That pile of dough would leave her with a net worth that approaches $1 billion.

Steve Wynn had a net worth of $2.3 billion last fall when we published our list of the 400 wealthiest Americans.

Other news from around the same time

Gaming industry group elects Boyd CEO as chairman - Thursday 21st of January 2010

The American Gaming Association has elected Boyd Gaming Corp. CEO Keith Smith as its next chairman.T....


Gambling addict Harry Kakavas loses case against Crown Casino - Wednesday 9th of December 2009

A PATHOLOGICAL gambler has failed in his bid to sue Melbournes Crown Casino for the millions of doll....


Call for ban on casino inducements - Wednesday 9th of December 2009

INDUCEMENTS like those given by Melbournes Crown Casino to pathological gambler Harry Kakavas should....


Cowboy Steve Wynn recalls days of ropin’ on Ralph Lamb’s ranch - Wednesday 9th of December 2009

It is the onstage news conference where Steve Wynn is announcing Garth Brooks’ residency at Encore T....


Casinos revamp gambling machines; Governors office says theyre still illegal - Wednesday 9th of December 2009

Alabamas largest gambling venues are reconfiguring their bingo machines to meet standards recently s....


Govt allows Crown to boost gaming tables - Wednesday 9th of December 2009

Legislation allowing Crown Casino to install 150 more gaming tables is set to pass this week after t....


Atlantic City casinos to reduce NYC train service - Wednesday 9th of December 2009

With winter ridership low, a rail service that carries gamblers between New York City and Atlantic C....


Pa. casinos spend over $1 million to lobby in 09 - Wednesday 9th of December 2009

Pennsylvania casinos have spent more than $1 million this year to lobby lawmakers and state official....


Strike highlights concerns on gambling ship - Wednesday 9th of December 2009

A strike that broke out Wednesday among the crew of 150 foreigners who live and work aboard the Palm....


Cellini asks President Obama to move casinos forward - Wednesday 9th of December 2009

In the wake of President Obama’s jobs summit, Thompson Town Supervisor Anthony Cellini Friday faxed ....