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NY hedge fund buys 5% stake in Wynn Resorts
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Melvin Capital hedge fund based in New York has bought 5.13% stake in Wynn Resorts.
The company stated in a filing with the Securities and Exchange Commission that it has raised its shares in Wayne Resorts from the previous 0.5%. Melvin Capital now has more than 5.77 million shares of Wynn Resorts.
“The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities,” the filing stated.
Wynn shares closed at $148.34 on the Nasdaq Friday, down 19 cents or 0.13 per cent. The SEC filing was made public Friday morning.
The company, which operates casinos in Las Vegas and Macau and is building a $2.4 billion resort complex near Boston, has been in constant upheaval since February, when company founder Steve Wynn stepped down as chairman and CEO following a report of sexual harassment allegations by the Wall Street Journal.
He sold his entire 12 per cent stake in March for $2.1 billion. Hong Kong-based casino operator Galaxy Entertainment bought a 4.9 per cent stake in Wynn in March.
Since that time, the Wynn Resorts board of directors has been remade, with more than half the board joining this year.
Elaine Wynn – the company’s largest shareholder – signed a “Standstill Period” that ends in 2020 and agreed to cap her ownership stake at her current 9.9 per cent.
Gaming industry veteran Phil Satre was named vice chairman of the company in early August and is expected to be named chairman by the end of the year. Current board chairman D. Boone Wayson will step down as chairman but will remain as a board member.
In April, the company added three women to its board – former White House press secretary Dee Dee Myers, three-time CEO Betsy Atkins, and Kestrel Advisors CEO Winifred “Wendy” Webb – who joined current board member Pat Mulroy making Wynn among the top 40 S&P 500 companies for female board representation.
Wynn CEO Matt Maddox was also named to the board this month.
Source: cdcgamingreports.com
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Latest News
Casino Kings Unleashes Knockout Sports Betting Offer for Eubank Jr vs Benn Showdown
The boxing world is bracing for one of the most highly anticipated matchups in recent memory as Chris Eubank Jr takes on Conor Benn at Tottenham Hotspur Stadium on Saturday, April 26th. And while punches are being thrown in the ring, Casino Kings is delivering a knockout of its own for punters and sports betting fans.
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Chris Eubank Jr vs Conor Benn: A Rivalry Reignited
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Key Fight Details:
• Event: Chris Eubank Jr vs Conor Benn
• Date: Saturday, April 26, 2025
• Venue: Tottenham Hotspur Stadium, London
• Start Time: 19:00 BST
• Ringwalks: 22:00 BST
• Streaming: Sky Sports Box Office
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The post Casino Kings Unleashes Knockout Sports Betting Offer for Eubank Jr vs Benn Showdown appeared first on European Gaming Industry News.
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ULTIM8 SPORTSBOOK IFRAME: Ultimate Solution for Operators Who Have Seen It All
GR8 Tech launches ULTIM8 Sportsbook iFrame—an easy-to-launch solution designed specifically for the needs of experienced businesses: casino brands aiming to dominate sports betting without hiring an army of sportsbook specialists, or operators fed up with tech bottlenecks stunting their growth.
“We dedicate a lot of time to talking to the market, and one thing kept coming up: too many products are built for entry-level needs. That’s fine… until it is not. Operators that grow beyond the basics often hit a wall. Their current platform needs improvement and differentiation that comes slowly, if at all; at the same time, switching to something new just means discovering another set of limitations down the line,” shares Yevhen Krazhan, CSO at GR8 Tech. “There was clearly a gap—a well-formed demand for a solution tailored to mature operators who know what their players want and are done settling for tech that slows them down or boxes them in.”
ULTIM8 Sportsbook iFrame was created to tackle these advanced challenges, enabling operators to differentiate with market-leading content and a customizable front-end while maintaining full control over crucial areas like player engagement and risk management. Feature-rich right out of the box, the solution drives the ultimate revenue boost with its AI-driven toolset.
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With all these advanced features, GR8 Tech’s ULTIM8 Sportsbook iFrame still maintains one of the key decisive factors of all iFrame solutions—quick launch time. As long as operators provide everything necessary for the launch from their end in time, the business can go live within just one week.
Sergey Ghazaryan adds: “GR8 Tech aims to become the first choice for operators looking for high-performance sportsbook-driven solutions. ULTIM8 Sportsbook iFrame is a very important step towards this goal—an ultimate showcase of our sportsbook expertise, packed in a convenient, easy-to-integrate form, tailored to the demands of the mature operators that have been unanswered up until now. Well—not anymore.”
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The post ULTIM8 SPORTSBOOK IFRAME: Ultimate Solution for Operators Who Have Seen It All appeared first on European Gaming Industry News.
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USDT Casino Launches Industry-First ‘Sunday Brunch Free Spins’ with Zero Wagering Requirements
USDT Casino has unveiled a groundbreaking promotion that is set to transform weekend gaming for cryptocurrency enthusiasts. The innovative ‘Sunday Brunch Free Spins’ offer provides players with 20 free spins on Evoplay’s popular Food Feast slot, featuring zero wagering requirements and no maximum win limits.
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The post USDT Casino Launches Industry-First ‘Sunday Brunch Free Spins’ with Zero Wagering Requirements appeared first on European Gaming Industry News.
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