Daily Archives: November 24, 2009

Steve & Elaine Wynn Plan Amicable- & Most Expensive Divorce in History

Steve and Elaine Wynn, in a joint statement released yesterday, after eight months of hammering out some of the details, the couple announced they have reached “an amicable settlement” agreement in the split of their estimated $2 billion gambling empire– giving it the distinction of one of  the most expensive divorces on record. 

According to the statement, the terms and conditions of the settlement are confidential.   

Their divorce is expected to be finalized the first part of 2010. 

It also appears to be business as usual after the divorce is final.  Elaine Wynn will continue her role as director and board member of Wynn Resorts, Ltd., emphasizing community outreach and charitable contribution projects, working together with ex-hubby Steve Wynn.   

Their divorce papers were filed March 5 and sealed the same day, keeping secret such details as who filed. 

There has been speculation that the divorce settlement could eclipse the $1.7 billion worth of assets media mogul Rupert Murdoch agreed to give wife Anna in their 1999 divorce. That deal included her receiving a reported $110 million in cash. 

The Wynns were married in 1963, divorced in 1986, and re-married again in 1991— all the while acquiring their current financial fortune. 

The Wynns split after the hotel developer’s romance with a British divorcee, Andrea Hissom, went public this year. They met in 2008 on the Riviera, where he has a luxury yacht. 

Steve Wynn, who turns 68 Jan. 27, and Hissom were seen yesterday at the “Regis & Kelly Live” TV taping at the Encore Theater at Wynn Las Vegas. 

The Wynns are now living in separate villas at Wynn Las Vegas on the Strip. 

In his divorce complaint, Wynn said that because of the couple’s wealth of community property, neither party should be awarded alimony or other financial support. 

But under Nevada law, community property is supposed to be split in half, which means each is entitled to half of the couple’s lucrative Wynn Resorts stock. Exactly how the stock is being divided, however, remains to be seen. 

Steve and Elaine Wynn reportedly each own more than 24 million shares in Wynn Resorts. Wynn Resort stocks have been hovering between $60 and $70 a share. 

Nevada gaming regulators have been watching the divorce proceedings because Elaine Wynn may have to come forward for licensing if she ends up owning 10 percent of Wynn Resorts stock. It depends on how her ownership share is structured.

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Bone-Jarring Off-Road Desert Race Planned outside Las Vegas, Dec. 4-5

The Henderson Fabtech Desert Classic off-road 60-mile race for cars, trucks and utility vehicles will be Dec. 4-5 in Henderson, Nevada, located just south of Las Vegas. 

In its eighth year, the event marks the final race for this year’s Best in the Desert Racing Association calendar. 

Racing on BLM land, an estimated 15,000 people are anticipated to attend the event, including about 800-people who make up the driving teams. 

On the line is $10,000 for winning the Ford-sponsored event. 

The race is as much for the racers as it is for the onlookers.  Pit areas for onlookers are set up along the course, off Highway 604 south of Sloan. 

The free Henderson Fabtech Desert Classic off-road event kicks off at 11 a.m. on Dec. 4 with vehicle inspectons and an off-road race expo until 6:30 p.m. on Water Strret, near the Henderson Events Plaza, 200 S. Water Street in Henderson, Nevada. 

The first race, for the lower horsepower vehicles, is from 7 a.m. to noon on Dec. 5, followed by the larger horsepower vehicles from noon until about 7 p.m. 

Fans can watch from a spectator area or two pit areas along the course off Highway 604 south of Sloan. 

For more information, please call 702-267-2171, or visit www.hendersonlive.com or www.bitd.com 

Las Vegas Backstage Access plans to be there.  If you need a professional article and/or professional photography, please send us a note.  Just complete a reply to this post and we’ll be right back to you.

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