Wynn Resorts shares fall as board investigates allegations

Multiple members of Congress said they would give donations from Wynn or an affiliated organization to charity.

Due to sit on 33 acres of land along the banks of the Mystic River in the Boston suburb of Everett, the completed 29-story Wynn Boston Harbor Resort is expected to offer in excess of 620 rooms as well as a large casino with some 3,000 slots and an extensive selection of gaming tables. She said she was "very pleased" that Wynn stepped down from his RNC position and called the allegations he is facing "very serious". Just as Republicans called on Democratic candidates to rid themselves of contributions from Hollywood executive Harvey Weinstein after decades' worth of allegations against him were reported, Democrats are urging Republicans to do the same with donations from Wynn.

Wynn's background had been originally investigated by the MGC when he first sought the license, said McGowan, but it was mostly focused on one thing.

The average investment recommendation on a scale of 1 to 5 (1 being a strong buy, 3 a hold, and 5 a sell) is 2.30, which implies that analysts are generally neutral in their outlook for WYNN over the next year.

We note that gambling stocks have oscillated between gains and losses in recent sessions and investors can expect this volatility to continue in the coming days.

Wynn Resorts' stock continued to fall on Monday morning after CEO Steve Wynn was accused of sexual misconduct in a bombshell Wall Street Journal report. The contributions were from Wynn Resorts, not Wynn himself, as part of a corporate membership program. "Consequently, the MGC's Investigations and Enforcement Bureau will conduct a regulatory review of this matter to determine the appropriate next steps".

The casino giant's stock fell 6.58% at $168.42 per share in pre-market trading. She has been seeking to regain control over her stake for several years now without much success.

Wynn also denied the allegations personally. Lindsey Graham, R-S.C., said the RNC should return money from Wynn, or donate it to worthy causes. The institutional investor held 4,755 shares of the consumer services company at the end of 2017Q3, valued at $708,000, up from 1,462 at the end of the previous reported quarter.

Spokespeople for the National Republican Congressional Committee and Roskam's Congressional campaign did not immediately respond to a request for comment.

The RNC has not yet said whether it will return any money donated by Wynn.

Steve Wynn's properties Encore, left, and Wynn Las Vegas, right, on the Vegas Strip on Saturday, Jan. 27, 2018. "All allegations should be taken seriously", the former Trump aide said.

Since 2013, Wynn has contributed almost $2.4 million to GOP candidates and party organizations around the country, including 2017 special election winners as well as dozens of state Republican Party committees.

In a lengthy statement, Wynn and his company both attributed the allegations to a campaign led by Wynn's ex-wife, Elaine Wynn.


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