Monthly Archives: February 2018

Steve Wynn won’t fight ex-wife selling Wynn Resorts shares

Embattled casino titan Steve Wynn has given up his multi-year fight for control of his ex-wife’s Wynn Resorts stock, just days after he resigned from the company he founded under a cloud of controversy.

On Friday, Wynn Resorts filed a letter with the Securities and Exchange Commission in which Steve’s attorneys announced that “in light of the significant changed circumstances triggered by Mr. Wynn’s resignation … Mr. Wynn no longer contests [his ex-wife Elaine] Wynn’s judicial admission that the 2010 Stockholders Agreement is invalid and unenforceable.”

Steve and Elaine have been locked in a multi-year legal fight over her right to do what she wants with her 9.4% stake in Wynn Resorts. Steve had claimed that Elaine had breached the terms of their 2010 divorce settlement, which effectively gave him control over her shares (and the combined voting power with his own nearly 12% stake in the company).

Wynn Resorts also announced that Steve has “no immediate plans” to sell any of his shares in the company and has promised that, should he choose to sell, “he will seek to conduct such sales in an orderly fashion.”

London Conference Week 2018 day five recap: LAC

The second day of the London Affiliate Conference (LAC) took place today, the final installment of a five consecutive day gambling conference marathon. As it was yesterday, the mood was light and fun, maybe just a bit more fatigued due to multiple nights of networking dinners and parties.

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Italy sets online casino revenue record; PokerStars’ grip slips

Italy’s regulated online gambling market started 2018 off on the right foot, posting double-digit sports betting gains and setting a new online casino record.

Figures compiled by Italian gaming news agency Agimeg show total land-based and online sports betting revenue of €150.5m in January, up 15.5% year-on-year. However, the online portion of that total was up 27.5% to €60.8m, dramatically outpacing retail betting’s 8.7% growth.

UK operator Bet365’s Italian site claimed top honors in the individual online sports betting operators with revenue of €10.1m, while SKS365 Group’s Planetwin365 brand wasn’t far behind at €8.5m. The rest of the top-five was a dogfight between Snaitech (€5.7m), Eurobet (€5.1m) and Sisal (€4.9m).

The online casino vertical set a new monthly revenue record with €59.7m, a hefty 30.4% improvement over the same month last year. Local boys Lottomatica claimed top individual honors, although its 9.03% online casino market share was a mere whisker above The Stars Group’s PokerStars at 9.01%. Sisal (8.33%), Eurobet (7.23%) and GVC Holdings’ Bwin (5.91%) rounded out the top-five.