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Wynn Resorts stock rises after former boss sells up

Steve Wynn stepped down from the namesake firm earlier this year amid reported allegations of sexual misconduct

Las Vegas, Wynn Resorts
Wynn Resorts stock rose US$6.46 or 3.68%

Wynn Resorts Limited (NASDAQ:WYNN) stock pointed higher ahead of Friday’s open after it emerged that recently departed boss Steve Wynn had sold all his shares.

Through privately negotiated transactions he sold his last 8mln shares at US$175 each for to unnamed  buyers, meanwhile, the Las Vegas company announced it was selling 5.3mln shares to Macau-based casino firm Galaxy Entertainment at a price of US$175 per share.

Steve Wynn stepped down from the namesake firm earlier this year amid reported allegations of sexual misconduct.

On Wall Street, Wynn Resorts stock rose US$6.46 or 3.68% to trade at US$182 before the open.

Quick facts: Wynn Resorts

Price: 103.63 USD

NASDAQ:WYNN
Market: NASDAQ
Market Cap: $11.17 billion
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