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Article: Monaco Casino Operator Partners with Las Vegas-Based Wynn Resorts.

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Knight Ridder/Tribune Business News
Article date:
June 16, 2003
Copyright

By Jeff Simpson, Las Vegas Review-Journal Knight Ridder/Tribune Business News

Jun. 16--Steve Wynn and the owner of Monaco's world famous Le Casino de Monte-Carlo have agreed to enter into a strategic alliance that could be a big plus for Wynn Resorts, Wynn said Friday.

Societe des Bains de Mer and Wynn Resorts announced Thursday that the Monaco company would invest $45 million to buy 3 million shares of Wynn Resorts.

The companies will also exchange management expertise and develop cross-marketing initiatives, the companies noted in a jointly issued statement.

"It's pretty nice," Wynn said Friday morning. "Basically, we're ...

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