Wynn Cuts Casino-Company Stake After Settlement With Ex-Wife

Steve Wynn cut his stake in the $18 billion casino company he founded after settling an acrimonious, six-year court fight with his ex-wife, a move that may move the company closer to becoming an acquisition target.

Wynn, 76, sold 4.1 million shares in Wynn Resorts Ltd. at $180 a share, according to a regulatory filing Thursday. The sale brings his stake down to 7.8 percent from 12 percent, lower than his ex-wife’s holding in the company.