Casino exec Elaine Wynn, major shareholder of Wynn Resorts, dies at 82
Billionaire Elaine Wynn, who worked with her then-husband Steve Wynn to launch Wynn resorts, died Monday at the age of 82.
Elaine and Steve Wynn co-founded the Mirage Resorts in 1976 and Wynn Resorts in 2000. They went on to build the Wynn Las Vegas, which at the time was the most expensive resort ever built and became the most profitable in the gambling mecca, the Las Vegas Review-Journal reported.
The two first married in 1963 and were divorced in 1986. They remarried in 1991 and divorced again in 2010. Elaine Wynn led efforts to reform Wynn Resorts after Steve Wynn departed the company and sold his shares amid sexual misconduct allegations in 2018.
Elaine Wynn was deeply involved in philanthropy related to the arts, particularly artistic and cultural institutions in the Las Vegas area, and was a board member for several educational institutions. She also worked to spur the development of Las Vegas as a shopping destination, as well as making the city more livable for families.
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As of a filing on March 5, Elaine Wynn controlled about 9.5 million shares of Wynn Resorts stock, which represented 8.98% of the outstanding shares, according to Thomson One data.
Elaine Wynn's net worth at the time of her death was estimated at $1.9 billion, according to Forbes' real-time net worth tracker.
Wynn Resorts released a statement on her death that said, "We are all deeply saddened to hear of the passing of Elaine Wynn and send our condolences to her daughters, grandchildren, and her many close friends."
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"As co-founder and one of the largest shareholders of Wynn Resorts, she helped to create and grow the company to become the most esteemed luxury resort brand in the world. Her many talents and special touches are indelibly imprinted on the company and still evident throughout our resorts," the statement continued.
"Elaine cared deeply about the employees of our resorts. The current and former employees who worked alongside her to create Wynn and Encore Las Vegas cherish the many fond memories they have of her, especially of when they opened Wynn Las Vegas with her 20 years ago this month," Wynn Resorts added.
"She was a tireless advocate for Las Vegas, for children and their education, and for the arts. We're grateful that the enduring sense of philanthropy she instilled in our company continues to this day."