Wynn Plans Big Payout

Holders will get $6 a share.
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Wynn Resorts (WYNN) - Get Report declared a $6-a-share special cash distribution.

The Las Vegas-based gaming company said the distribution will be payable Dec. 4 to holders of record on Nov. 23.

Wynn also said Jack Binion will cede his day-to-day operational responsibilities at Wynn Macau and will become a director and principal in the development team in the company's Macau operations. Wynn and Binion agreed to terminate employment and related restricted stock agreements between them.

Shares rose $1.81 to $84.