Tag Archives: celebrity divorces

Steve Wynn’s Fling is Kaput

Billionaire Las Vegas and Macau hotel and casino mogul Steve Wynn, 68, and his British girlfriend, Andrea Hissom, right, 46, have split, according to multiple sources. 

Their parting comes a little more than a year after their romance, which bloomed on the French Riviera, became public. 

Wynn and former wife Elaine were divorced Jan. 5, and she received a settlement that Steve Wynn, who became a billionaire in 2004, confirmed was one of the largest in U.S. history. 

There was a recent spat, and Hissom, the mother of two teenage sons, has apparently returned to London, sources said. 

Wynn and Hissom lived in a luxiorious villa on the Wynn Las Vegas property, a long walk from the villa occupied by Elaine Wynn. 

In a recent interview that appeared in Sunday’s South China Morning Post, Steve Wynn acknowledged that the two women have not met. “Elaine does not want to meet Andrea,” he told the newspaper and saying he and Elaine had split a year before he met Hissom. 

During the interview, it was clear he was still smitten with Hissom.  “I get to go to bed at night with this lady who is sweet and perfect,” he says. “She’s 46 but looks 18. She is genetically lucky. I grew up with Elaine.” 

Elaine told the newspaper, “I am mourning the loss of the dream as much as the man, but I do not feel like a victim in any way.”

Leave a comment

Filed under entertainment, Las Vegas, news, Uncategorized

Steve and Elaine Wynn Plan for Divorce, Sell $114 Million in Stock

Las Vegas casinos have been slammed hard by the recession, but Wynn Resorts shares have more than tripled from a March low. Now, Steve and Elaine Wynn have cashed in some of that jackpot with a whopping $114 million stock sale to raise cash ahead of their impending divorce. 

The couple sold two million shares of the company’s common stock on Aug. 14 at an average price of $57 per share. Steve Wynn is Wynn Resorts’ chairman and chief executive officer and Elaine Wynn is a director of the company. The Wynns, who now hold 46.7 million shares directly and through an interest in Aruze USA, have cut their stake in the company to 37.9% from 39.6% with the sale. 

The divorce would be the couple’s second. They divorced in 1986, but never separated and remarried in 1991. 

Wynn Resorts operates Wynn Las Vegas and Encore hotels and casinos on the Las Vegas strip and another resort and casino in Macau. All properties suffered when the recession hit and corporations and individuals curtailed luxury spending. 

The company’s stock price traded for as little as $14.50 in early March, but that was an inflection point. Wynn Resorts closed at $54.85 recently. 

For the year-to-date, Wynn Resorts shares are up 30%. Competitors Las Vegas Sands and MGM Mirage haven’t fared as well, gaining 18% and falling 39%, respectively. 

In July, Wynn Resorts surprised Wall Street by reporting a second-quarter profit, aided by aggressive cost cutting. 

Lon Juricic, president of StreetInsider.com, says the divorce situation means investors shouldn’t read too much into the sale.

Leave a comment

Filed under entertainment, Las Vegas, news, Uncategorized