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Wynn Resorts Ltd. (WYNN) Climbed After Departure Of Steve Wynn

Wynn Resorts Ltd. (WYNN) announced after the bell Tuesday that it accepted the resignation of Steve Wynn as CEO and Chairman of the Board of Directors. The board has appointed its current President, Matt Maddox as its CEO, and Boone Wayson as Non-Executive Chairman of the Board of Directors, effective immediately.

JP Morgan also upgraded its rating on shares of Wynn Resorts to "Overweight" from "Neutral."

Wynn Resorts gapped open higher Wednesday and climbed during the first hour of trade, before settling into a range. Shares finished with a gain of 14.10 at $177.32 on above average volume. The stock rose to over a 1-week high.

by RTT Staff Writer

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