LAS VEGAS, March 28, 2016 /PRNewswire/ -- Wynn
Resorts (NASDAQ: WYNN) today issued the following statement in
response to the amended counterclaim filed by Elaine Wynn:
Elaine Wynn's latest claims are
consistent with the falsehoods and distortions she previously made
against the Company and its CEO Steve
Wynn.
In 2015, the independent directors of the Company chose not
re-nominate Ms. Wynn to the Wynn Resorts Board of Directors.
As a result, Ms. Wynn waged a campaign for her re-election and her
efforts were soundly rejected by the company's shareholders.
Although Mr. Wynn voted his shares pursuant to their Stockholders
Agreement, Elaine Wynn lost the
election, with only 7% of the votes cast for her by her fellow
shareholders.
Ms. Wynn's latest allegations regarding our Board, its
composition and its independence are simply not true and are
rehashed from her previous, unfounded statements made during her
proxy campaign. Our company has nine distinguished directors,
seven of whom are independent under NASDAQ standards.
Throughout her campaign, in which she directly communicated with
shareholders via numerous personal letters, she never once raised
the new allegations set forth in her recent complaint. Her
allegations regarding the use of company assets are without
merit. The use of company assets is governed by many internal
policies and is closely supervised both by the Audit Committee,
which is comprised solely of independent directors, and our
external auditors. As outlined in recent proxy
statements, Mr. Wynn reimburses the Company for his accommodations
at the hotel, his personal use of corporate aircraft and all other
company assets subject to company policy. These policies and
any perquisites he receives have always been set forth in our proxy
statements.
As a leader in a highly regulated industry, Wynn Resorts prides
itself on its transparency and full disclosure to regulators and
shareholders. Allegations made by Ms. Wynn that the company
would hide any relevant activities from our regulators are patently
false.
By any measure, Wynn Resorts has ascended to a position of
unrivaled stature and it is a symbol of unquestioned excellence and
quality the world over. None of what Wynn Resorts has
accomplished would be possible without its extraordinary employees
and the sense of family and community that Mr. Wynn has
created. Ms. Wynn's actions today run counter to the culture
of everything Mr. Wynn has worked so hard to create.
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 4,748 spacious hotel rooms, suites and villas,
approximately 186,000 square feet of casino space, 34 food and
beverage outlets featuring signature chefs, two award-winning spas,
an on-site 18-hole golf course, meeting space, approximately 99,000
square feet of retail space as well as two showrooms; three
nightclubs and a beach club.
Wynn and Encore 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 280,000 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.
Logo - http://photos.prnewswire.com/prnh/20141014/152145LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/statement-from-wynn-resorts-in-response-to-elaine-wynns-recent-filing-300242079.html
SOURCE Wynn Resorts