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While many casino management teams are lamenting that their stocks are too cheap, Steve Wynn, chair and CEO of Wynn Resorts (WYNN Quote), is actually doing something about it.
After trading sharply lower this week on reports of deep declines in Las Vegas gambling, Wynn shares rebound Friday after the company announced a massive share buyback.
Wynn announced an increase of $500 million to its existing share-buyback plan, which had about $800 million left at the end of the recent quarter. ...
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