Tag Archives: 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.”

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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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Nevada Leads U.S. with Highest Divorce Rate- 14.2 %!

Las Vegas has always been a town where people rush in, sometimes eloping, and quickly head down the aisle in a quick marriage.  Now, new figures released by the U.S. Census Bureau show that Nevada also has the the highest divorce rate of any state in the nation last year– 14.2 percent of the population has been through a divorce. divorce

Experts point to alcohol abuse, gambling addiction and the overall 24-hour environment filled with dancers, showgirls and brothels as likely contributors to the high rate across the state, including Reno—once known as the “Divorce Capital of the World.” 

Frank Lin is a divorce attorney in Las Vegas whose firm Lin & Associates uses the phone number 702-DIVORCE. He says there’s “a lot of temptation, so to speak, because it’s constantly in front of you.”

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What’s Up with Steve Wynn and Encore in Las Vegas?

There is much controversy swirling around a supposed new nightclub and beach at Encore in Las Vegas, the newest signature resort in the Wynn collection, which opened  on December 22, 2008. 

Many are saying the nightclub has been named Switch Beach and the club’s monicker will be Wet Kiss.  

Plus, as Steve Wynn and his wife Elaine are going through the steps of their costly divorce, recently selling stock to plan for the eventuality as reported by Las Vegas Backstage Access, Steve now has reportedly purchased another luxury yacht.

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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.

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Steve Wynn’s Divorce Rumors Persist in Las Vegas

London’s Daily Mail is speculating that the Steve and Elaine Wynn’s split could become the most expensive divorce settlement in entertainment history. 

The “other woman” in the Steve Wynn tryst now has been identified as British socialite Andrea Danenza Hissom, a 40-something mother of two teenage sons, who was married to London-based investment broker Robert Davis Hissom, according to The New York Post’s Page Six column.  

Hissom’s father is financier Victor Danenza who fled to France in 1976 from New York after the FBI investigated his connection with fraudulent stock market deals.

Wynn and Hissom have reportedly been rendezvousing on Wynn’s yacht on the Carribean island of St. Bart’s.

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