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Residents, Wynn Make Deal

March 16, 2004|From Associated Press

LAS VEGAS — A $23-million deal is expected to settle four years of lawsuits pitting casino mogul Steve Wynn against the 10 remaining Desert Inn Estates homeowners who had refused to sell him their residences.

His firm, Wynn Las Vegas, disclosed Monday in a federal Securities and Exchange Commission filing that it reached a deal Feb. 23 to buy the homes.

"The settlement provides that [Wynn Las Vegas] will pay $23 million in exchange for the 10 remaining residences and dismissal by the plaintiffs with prejudice of all of the actions," the Wynn Las Vegas filing said.

John Netzorg, the homeowners' lawyer, said a confidentiality agreement prevented him from commenting on the deal.

The legal battle began when Wynn bought the Desert Inn and its adjoining golf course in April 2000. Some homeowners sold to Wynn, who is building a hotel-casino on the property, but others balked, accusing him of building dirt mounds that blocked their view of the golf course.

A Clark County district judge ruled in November that residents had no express right to the view, but said Wynn could not seal them off from the course.

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