Erroneous reports by several news organizations, including Anna Prior of the Wall Street Journal, mentioned a Department of Justice investigation noted in the Company’s 10-Q released today. Those reports fail to mention that no new information was released on the matter in Tuesday’s 10-Q and is identical to the disclosure the Company made in May 2013 and August 2013. The disclosure is consistent with standard reporting practices.
When the US Department of Justice publicly filed its 35-page motion in April 2013 to intervene in the Okada case, the motion included a one-sentence footnote mentioning that the DOJ was conducting an investigation into the Company’s donation to the University of Macau. Wynn Resorts has never received a target letter or subpoena with such an investigation. Furthermore, the Securities and Exchange Commission disclosed in July 2013 that it would not recommend any enforcement action in the matter.
About Wynn Resorts:
Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 and NASDAQ-100 Indexes. Wynn Resorts owns and operates Wynn and Encore Las Vegas ( www.wynnlasvegas.com) and Wynn and Encore Macau ( www.wynnmacau.com).Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,750 spacious hotel rooms, suites and villas, approximately 186,000 square feet of casino space, 32 food and beverage outlets featuring signature chefs, two award-winning spas, an on-site 18-hole golf course, meeting space, a Ferrari and Maserati dealership, approximately 94,000 square feet of retail space as well as two showrooms, three nightclubs and a beach club. Wynn Macau is a destination casino located in the Macau Special Administrative Region of the People's Republic of China with two luxury hotel towers with a total of 1,008 spacious rooms and suites, approximately 275,000 square feet of casino space, casual and fine dining in eight restaurants, approximately 57,000 square feet of retail space, recreation and leisure facilities, including two health clubs, two spas and a pool.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV