Like other casino companies, Wynn Resorts (WYNN) has had a horrible year, with its stock tanking over 80%. To add insult to injury, CEO Steve Wynn has been served with divorce papers, by his wife Elayne, who also happens to sit on the board of the company.
We’re not sure what the deal is, exactly. There have been rumours of Steve Wynn cavorting with other women (wouldn’t be a gigantic surprise, if true). Maybe she doesn’t like those cheesy ads, where he sits on top of the hotel.
Or maybe it’s just a good old fashion case of dumping the husband after he blows his fortune. If that’s the case, we wonder if Steve Wynn blames Obama for his divorce.
We say this, because apparently Las Vegas is now officially blaming Obama — and his war on corporate junkets — for their severe downturn. Now we’re pretty sure that it’s the economy — not Obama — that’s killed Vegas. And if these firms hadn’t borrowed so much to build so aggressively, they might’ve even been able to weather the whole thing better. But, then, always easier to personify your problem, rather than blame something abstract like the recession.