Elaine Wynn, Co-Founder of Wynn Resorts, Leaves $2 Billion Estate to Family Trust

Elaine Wynn, Co-Founder of Wynn Resorts, Leaves $2 Billion Estate to Family Trust
19 June 2025 Gambling News

Elaine Wynn, Co-Founder of Wynn Resorts, Leaves $2 Billion Estate to Family Trust

Elaine Wynn passed away on April 15 at the age of 82. The beneficiary of her wealth has been disclosed to the public. 

As per filings from the Clark County District Court, Wynn bequeathed her estate, valued at approximately $2 billion, to a trust established in her name. The legal papers indicate that her estate was designated to the Elaine P. Wynn Family Trust. 

The trust is managed by her two daughters, Kevyn and Gillian, her nephew Andrew Pascal, and businessman Bobby Kotick. 

Pascal, an ex-executive at Wynn Resorts, co-founded PlayStudios, where he serves as chair and CEO, operating as a mobile social gaming developer in Las Vegas. Kotick serves as the CEO of Activision Blizzard, which is a video game company. 

Although the executors have been identified, the court documents do not specify the beneficiaries of the family trust, but they are likely Wynn's two grown daughters. The executors are responsible for overseeing the trust, which includes determining the timing for purchasing and selling assets. Ms. Wynn signed the will on May 24, 2016. 

At the time of her passing, Wynn held approximately 8% of the issued shares of Wynn Resorts. Her trust is now the second-largest individual shareholder of Wynn Resorts, following Tilman Fertitta, who owns Golden Nugget Hotel & Casinos within his Landry’s hospitality and gaming empire. 

Wynn's spouse, Steve Wynn, formerly owned the Golden Nugget casino chain before establishing Mirage Resorts in 1973. 

 

Non-relational Co-Executor 

Kotick stands out among the designated executors of the Elaine Wynn Family Trust because he has no connection to the Wynn family. Nonetheless, he is closely connected to the casino billionaires. 

Wynn’s spouse, to whom she was married twice following a five-year divorce, shares some responsibility for Kotick’s achievements. 

During a CNBC interview in 2019, Kotick explained that he first encountered Mr. Wynn at the age of 19 at a charity event he was invited to. Following a discussion regarding his software startup, Wynn put in $300K for a 30% equity share. 

Kotick stated that Wynn never requested a contract in return for the investment.

"Wynn said, ‘Contracts-shmontracts. You’re my family now,’ and walked out,” Kotick said.

Wynn acted as a guide to Kotick throughout his career and upcoming pursuits. As Elaine has been married to Steve for over forty years, she also grew close to Kotick. 

 

Wynn Heritage Persists 

Todd Shriber, the financial analyst at Casino.org who focuses on the gaming sector's business aspects, states that Wynn's leftover shares in the Encore operator are essential to the company's short-term prospects.

"The fate of the stock is important because if the estate rapidly liquidates it, that would likely mean near-term downside,” Shriber said.

Fertitta, who has been raising his investment in the casino firm, expressed his dissatisfaction with Wynn's top management last week. Though Fertitta has committed to being a passive investor, it's unclear if the administrators of the Elaine Family Trust will follow suit. 

In addition to her Wynn shares, Elaine bequeaths multiple properties in Los Angeles and Las Vegas. Elaine mainly resided in a residence within the Southern Highlands Golf Club, a private community and golf club. 

Elaine possessed a high-end condo located on Hughes Center Drive in Las Vegas. That property has been listed for sale, with a price tag of $3.49 million

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