LAS VEGAS (AP) — Casino billionaire Steve Wynn has agreed to transfer control of $741 million worth of his stock in Wynn Resorts Ltd., where he is CEO, to his wife, Elaine, as part of a divorce settlement.
Securities and Exchange Commission documents said the Wednesday transfer, which involves more than 11 million shares, leaves the Wynns each with about 18 percent of the company’s outstanding stock. The transferred shares were previously communal property.
The company did not immediately return a call seeking comment. Wynn Resorts stock closed at $66.96 on Wednesday.
The couple filed for divorce March 5 in Las Vegas and the case was sealed the same day.
Elaine Wynn is on the company’s board and was re-elected to a three-year term in May.