Elaine Wynn owns 9 percent of Wynn Resorts. But she never had voting control over those stocks. A nasty, years-long litigation between Elaine and her ex-husband – casino mogul Steve Wynn – over control of those stocks ended quietly on Friday.
In a filing with the Securities and Exchange Commission, Steve Wynn announced he was giving up the fight after resigning as chairman and CEO of Wynn Resorts. This follows two weeks of turmoil in the wake of a Wall Street Journal article that raised allegations of sexual harassment against the gaming industry titan.
For John L. Smith – who wrote a book about Steve Wynn back in the 90s – the harassment issue is only part of the story of a complicated man. His legacy as a man who cared about details, and who clowned around with the likes of Frank Sinatra, has changed Vegas forever.
But what will happen to the Wynn name in the future? Will it stay on hotel? Will it be replaced with Elaine’s name? Or will it eventually live on as a symbol of the good and bad of Las Vegas?