Billionaire Las Vegas casino magnate Steve Wynn and wife Elaine are again headed for divorce, a court official said Tuesday.Clark County District Court spokesman Michael Sommermeyer told The Associated Press on Tuesday that divorce papers were filed March 5 and sealed by a judge the same day. The sealing means no other details of the case are public.Steve Wynn is chief executive of the Las Vegas-based casino company, which reported $210.2 million in net income for 2008. Elaine Wynn, 66, is a director on the company's board.
According to data compiled from Securities and Exchange Commission documents by 10K-Wizard, Steve and Elaine Wynn each own more than 24 million shares in Wynn Resorts. The stakes were each worth more than $468 million at Tuesday's market close, as Wynn Resorts' stock rose over 25 percent to close at $19.50. The shares are still nearly 84 percent off their 52-week high of $119.74 set in August before the market meltdown eroded much of their value.
Steve Wynn, 67, received $11.2 million in compensation for the company's top job in 2007, a year its stock price rose as the company expanded in Las Vegas and Macau, the Chinese gambling enclave.Andrew Pascal, president and chief operating officer of Wynn Resorts subsidiary Wynn Las Vegas LLC, is a nephew of the Wynns from Elaine's branch of the family.
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