Wynn-Wynn-win

7 January 2010 By Lauren Silva

As part of their divorce, the casino mogul s former wife gets half his stock, worth $740 mln. If gambling havens rebound, Elaine Wynn could become richer still. But the risks are high and the upside looks limited. Matters of the heart aside, she may want to part with Wynn shares.

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Steve Wynn's exwife, Elaine, will receive 11.1 million shares in casino company Wynn Resorts as part of a divorce settlement, according to a filing with the Securities and Exchange Commission on Jan. 6. The stock is worth $741 million based on the Jan. 6 closing price of $66.96 a share. It represents about 18 percent of the outstanding stock. Elaine Wynn is currently a member of the company's board.

This is the couple's second split. They were first married in 1963, divorced in 1986, remarried five years later and then filed for divorce again last March, according to the Associated Press.

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