Steve Wynn’s ex-wife secures payout from disgraced casino mogul, ending bitter lawsuit

A six-year boardroom battle ended Monday with a settlement involving the Las Vegas company founded by embattled former casino mogul Steve Wynn and his ex-wife.

A judge who was to begin seating a jury for a planned six-week trial in the town that Wynn helped build dismissed prospective jurors after teams of attorneys representing the company and the former couple declared the case ended with a payment pending from Steve Wynn to Elaine Wynn. They refused to disclose the amount.

Lawyers for all parties said details would be posted in a Securities and Exchange Commission filing.

The settlement ends the protracted court fight involving Wynn, a former business partner and his ex-wife, who joined the legal proceedings two year ago alleging she was wrongly ousted from the company’s board.

It’s the latest in a series of rapid developments following the airing in January by The Wall Street Journal of sexual misconduct allegations against Steve Wynn. The newspaper reported that several women said the billionaire harassed or assaulted them and that one case led to a US$7.5 million settlement in 2005 with a manicurist formerly employed by the company.

Wynn denies the claims.