Wynn Macau COO reduces stake to 0.15%
Frederic Luvisutto has earned over HK$11.1m (US$1.42m) from the sale of stocks in the company.
Macau.- Wynn Macau’s chief operating officer, Frederic Luvisutto, has reduced his stake in the company from 0.19 per cent to 0.15 per cent. He sold an aggregate of 2.05 million shares for an average price per share of HK$5.418. According to the company’s filing, he earned over HK$11.1m (US$1.42m) from the sale.
Luvisutto now holds 7.68 million shares in Wynn Macau, a reduction of 27.4 per cent compared to his position of 0.2 per cent of all shares in January after receiving a grant under the employee ownership programme. He had already cut his stake to 0.19 per cent in April in a sale that generated nearly HK$4.82m.
Wynn Resorts eyes Thai gambling market
Wynn Resorts, the parent company of Wynn Macau, is exploring Thailand’s potential IR market, according to Deputy Finance Minister Jalapun Amornvivat. In a briefing on Friday (May 16), Jalapun said executives had met with officials to discuss the government’s plans.
Jalapun believes that Thailand’s natural beauty, beaches, and historical heritage make the country attractive for integrated-resort development. He also press that Wynn has inquired about the likely selection criteria, regulatory requirement, and timelines, should Thailand’s casino bill get approval.
