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Wynn Resorts rallies after CEO exit

Feb. 07, 2018 7:06 AM ETWynn Resorts, Limited (WYNN) StockWYNNBy: Clark Schultz, SA News Editor37 Comments
  • Analysts are weighing in on Wynn Resorts (NASDAQ:WYNN) after the resignation of founder Steve Wynn.
  • Citi says the development is unlikely to have a large impact on the casino operator's businsess, while Morgan Stanley sees a lingering overhang.
  • "Some investors might consider the resignation of Steve Wynn as the removal of an overhang on the stock, but we think that many uncertainties remain around who will be the controlling shareholders in future," observes Morgan analyst Praveen Choudhary.
  • Steve Wynn owns 11.8% of the shares of the company, while his ex-wife Elaine holds 9.4%.
  • Shares of Wynn are up 3.54% in premarket trading to $169.00.

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