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Wynn Resorts (WYNN)

Stock (Hospitality Industry, Media & Entertainment Industry, Resorts & Casinos Industry)

Wynn Resorts Announces $11.2M Executive Compensation in '07 Steve Wynn, billionaire founder-CEO of Wynn Resorts, took home $11.2M in 2007. WYNN stock rose 19.5 percent on the year, but net profit fell as the company expanded its operations in both Las Vegas and Macau. Wynn is the company's second-largest stockholder as well, and his 21.1 percent stake in the company is worth $2.7B. Wynn's Stock Falls on Forecast of Weakness in Vegas Steve Wynn, chief executive of Wynn Resorts, gave mixed news in the company's fourth quarter '07 earnings report. On the plus side, Macau profits drove fourth quarter profits. But Wynn expects "general weakness" in the Las Vegas resort and casino industry throughout '08, citing ongoing economic troubles in the U.S.A. WYNN, and other Vegas stocks, fell as a result of the boss's forecast. CIBC gives Wynn Resorts a rating of “underperform” CIBC gives Wynn Resorts a rating of “underperform” and raises the target price from $83 to $90. MGM Mirage reported lower than expected first quar Wynn Resorts posted strong sales at the Wynn Macau

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