Wynn Resorts Says Elaine Wynn Continues To Rehash Same Accusations

(RTTNews) - In a response to a news release by Elaine Wynn, Wynn Resorts Ltd. (WYNN) said that Elaine Wynn continues to rehash the same accusations she has made, accusations which will be fully adjudicated when heard by the court early next year. Neither her nor the company's recent filings contain any new facts or revelations, as she so passionately claims.

The company noted that Ms. Wynn's comments regarding the company's Board of Directors, their independence and their actions in this matter are false. The company has nine directors, seven of whom are independent under NASDAQ standards, each deeply committed to the best interests of shareholders.

The company that Ms. Wynn's allegations about Mr. Schorr's departure from the company are not true. Her previous allegations that Mr. Wynn applied company resources for personal use are false; Mr. Wynn's use of company assets is fully audited by both the Board and external auditors, as well as completely outlined in proxy statements.

Steve Wynn, Chairman and CEO of Wynn Resorts through a spokesperson issued statement in response to the press release issued today by Elaine Wynn in reference to her amended counterclaim against Steve Wynn: "In issuing a press release regarding the routine filing of purported supporting documents, Ms. Wynn is simply recycling the same lies and distortions she has sought to promulgate in an attempt to embarrass Mr. Wynn, his fellow Board members and colleagues. She is promising verification for these same tired allegations without delivering on them. There was no legal reason for her press release. Her only motivation is an attempt to harm Mr. Wynn and Wynn Resorts and conduct the trial of her unfounded allegations in the press rather than in court where they are destined to be proved false."

"Mr. Wynn looks forward to formal and final resolution of the matter in court and until that time will refrain from the kind of scurrilous public discourse being pursued by his ex-wife."

Wynn Resorts, Limited announced preliminary expectations of its financial results for the first quarter ended March 31, 2016. In Macau Operations, Net revenues for the first quarter of 2016, are expected to be in the range of $603 million to $613 million, compared to $705.4 million generated in the first quarter of 2015. Adjusted property EBITDA is expected to be in the range of $187 million to $195 million in the first quarter of 2016, compared to $212.3 million for the first quarter of 2015.

In Las Vegas Operations, quarterly net revenues are expected to be in the range of $384 million to $394 million, compared to $386.9 million generated in the first quarter of 2015. Adjusted property EBITDA is expected to be between $105 million and $113 million for the first quarter of 2016, compared to $110.7 million for the first quarter of 2015.