Elaine Wynn wages battle to stay on Wynn Resorts board

Associated Press

Elaine Wynn is stepping up her fight to stay on the board of Wynn Resorts, the casino operator she co-founded with her former husband.

In an open letter to Wynn Resorts stockholders Monday, Wynn said that she is an asset to the board with "unmatched" experience.

Her letter comes a day after proxy advisory firm Institutional Shareholder Services recommended that stockholders not vote for Wynn and withhold their votes for two other nominees for the board. The two nominees are John J. Hagenbuch and J. Edward Virtue.

Wynn is the company's third-largest shareholder and has been waging a reelection campaign to stay on the board. The Las Vegas company, which she co-founded with former husband and Wynn Resorts Chief Executive and Chairman Steve Wynn, announced in March that it would not nominate her for another term.

Wynn Resorts Ltd. operates casino resorts in Las Vegas and Macau. Shares of the company rose $1.32, or 1%, to $130.72.

Copyright © 2016, Los Angeles Times


6:52 p.m.: This story has been updated to reflect the recommendation of Institutional Shareholder Services that stockholders withhold votes for two other nominees.