Wynn shares are getting obliterated

Steve wynnREUTERS/Fred ProuserSteve Wynn, president and CEO of Wynn Resorts, speaks at the panel titled ‘Steve Wynn on Building and Sustaining Great Customer Service’ at the 2008 Milken Institute Global Conference in Beverly Hills, California, April 29, 2008.

Wynn Resorts, the casino and hotel company helmed by billionaire Steve Wynn, getting absolutely obliterated in after hours trading. The stock is down 9%.

Wynn reported after the bell Tuesday afternoon and disclosed that it would be cutting its dividend to $US0.50 a share.

More on this to come.

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