The Wall Street Journal: Steve Wynn sells remaining shares in his casino company

Steve Wynn sold the remainder of his stake in Wynn Resorts Ltd. WYNN, -1.89% on Thursday evening, according to the company, part of a deal with two long-term institutional investors that will “effectively eliminate his ownership” in the company.

The total value of Thursday’s sale of 8 million shares, at $175 a share, is $1.4 billion. That comes after Wednesday’s sale of about 4.1 million shares for a combined $738.9 million.

Wynn sold about one-third of his shares on the open market Wednesday, the company said in a filing Thursday, following a series of moves by him and the company in recent weeks to allow the casino empire’s embattled founder to sell off the 12% stake he had in the company.

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