Elaine Wynn, Co-Founder of Wynn Resorts, Leaves $2 Billion Estate to Family Trust
Posted on: June 19, 2025, 12:35h.
Last updated on: June 19, 2025, 10:46h.
- Elaine Wynn left her estate to a family trust
- While the executors have been named, the beneficiaries have not
- The future of Wynn’s stock in Wynn Resorts lingers
Elaine Wynn died on April 15 at the age of 82. The heir to her fortune has been revealed publicly.
According to Clark County District Court filings, Wynn left her estate, estimated to be worth around $2 billion, to a trust in her name. The legal documents reveal that her estate was left to the Elaine P. Wynn Family Trust.
The executors of the trust are her two daughters, Kevyn and Gillian, along with her nephew, Andrew Pascal, and businessman Bobby Kotick.
Pascal, a former Wynn Resorts executive, is the co-founder, chair, and CEO of PlayStudios, a Las Vegas-based mobile social gaming developer. Kotick is the CEO of Activision Blizzard, a video gaming company.
While the executors were named, the court docs don’t detail the family trust’s beneficiaries, though it is presumably Wynn’s two adult daughters. The executors are tasked with managing the trust, including deciding when to buy and sell assets. Ms. Wynn executed the will on May 24, 2016.
At the time of her death, Wynn controlled about 8% of the outstanding shares of Wynn Resorts. Her trust is now Wynn Resorts’ second-largest individual shareholder behind Tilman Fertitta, who owns Golden Nugget Hotel & Casinos under his Landry’s hospitality and gaming empire.
Wynn’s husband, Steve Wynn, once owned the Golden Nugget casino brand before founding Mirage Resorts in 1973.
Nonfamily Co-Executor
Kotick is the outlier in the named executors of the Elaine Wynn Family Trust, as the businessman is unrelated to the Wynn family. He is, however, closely tied to the casino billionaires.
Wynn’s husband, whom she was twice married to after a five-year divorce separation, is partly responsible for Kotick’s successes.
In a 2019 CNBC interview, Kotick detailed that he met Mr. Wynn when he was just 19 years old at a charity fundraiser that he had been invited to. After a back-and-forth conversation about his software startup, Wynn invested $300K in exchange for a 30% stake.
Kotick said Wynn never demanded a contract in exchange for the investment.
Wynn said, ‘Contracts-shmontracts. You’re my family now,’ and walked out,” Kotick said.
Wynn served as a mentor to Kotick during his career and future endeavors. With Elaine being married to Steve for more than four decades, she too became close with Kotick.
Wynn Legacy Continues
Todd Shriber, Casino.org’s financial analyst who covers the business side of the gaming industry, says Wynn’s remaining stock in the Encore operator remains critical to the firm’s near-term outlook.
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 continued to increase his stake in the casino company, revealed last week his displeasure with Wynn’s executive leadership. While Fertitta has pledged to remain a passive investor, it’s unknown if the executors of the Elaine Family Trust will, too.
Along with her Wynn shares, Elaine leaves behind several homes in Los Angeles and Las Vegas. Elaine primarily lived in an estate inside the Southern Highlands Golf Club, a private golf club and community.
Elaine also owned a luxury condominium on Hughes Center Drive in Las Vegas. That property has already been put on the market, with an asking price of $3.49 million.
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