Wynn Resorts Ltd (WYNN): Wynn Resorts confirms 'discussions&#...

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Tuesday, 04/09/2019 10:01:53 AM

Tuesday, April 09, 2019 10:01:53 AM

Wynn Resorts confirms 'discussions' with Crown Resorts regarding potential buyout deal
By: MarketWatch | April 9, 2019

Wynn Resorts Ltd. WYNN, -3.91% confirmed Tuesday that it was in discussions with Crown Resorts Ltd. CWN, +19.68% CWLDY, +7.57% regarding a potential buyout of the Australia-based gaming giant. Wynn's statement comes after Crown said overnight the companies were in "confidential discussion" about a potential deal, with reports saying Wynn made a bid worth about 10 billion Australian dollars, or the equivalent of roughly $7.1 billion. Crown's stock soared 20% in overseas trading, while Wynn shares slipped 0.6% in light premarket trade. Wynn said in a filing with the SEC Tuesday that there is "no assurance that these discussions will result in a transaction," and that it does not intend to comment further. Wynn's stock has soared 46.5% year to date through Monday, compared with a 15.5% gain for the S&P 500 SPX,

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