Wynn to Join Nasdaq 100
Not to be outdone by his rival in the press, Sheldon Adelson of the Sands, Steve Wynn's Wynn Resorts Ltd. will be added to the stock market's Nasdaq 100 Index, effective Dec. 20, Nasdaq officials announced Friday.
The market annually reranks companies into the Nasdaq 100 in order to represent a wide range of industries, said a statement from the market, which lists shares for approximately 3,300 companies.
Shares of Wynn Resorts have more than doubled in value in the past year. On Friday, Wynn closed at $64.10, up $2.70, or 4.4 percent. Why didn't we buy a few shares?
Wynn Resorts plans to open its $2.5 billion Wynn Las Vegas on April 28, right across from Sheldon's planned Palazzo and his current Expo center. Wynn is also planning a $900 million expansion. The company is scheduled to open Wynn Macau in the Chinese gaming community sometime in 2006.