Three Day Rally in Wynn Resorts Continues After Founder Wins $20 Million in Slander Case

Shares of Wynn Resorts

are slightly higher on Monday, despite the fact that all of the major averages are lower on the session. WYNN has added 0.34 percent to $103.08 heading into the closing bell, marking the third straight gain for the stock. Meanwhile, the Dow has shed more than 46 points, while the S&P and Nasdaq are down 0.58 percent and 1.05 percent, respectively. In other company news, founder Steve Wynn won a $20 million judgement in a slander case against "Girls Gone Wild" founder Steve Francis, who allegedly claimed that Wynn threatened to kill him over a gambling debt. In siding with Wynn, the jury decided that there was clear and convincing evidence that Francis had slandered the Wynn Resorts founder and knew his allegations were false when he made them. Wynn's attorney had asked for $12 million plus punitive damages in the case. A second phase of the trial to determine punitive damages will begin on Tuesday. The allegations stem from a $2 million gambling debt that Francis owed Wynn Resorts. Year-to-date, WYNN has lost a little more than 6 percent despite a strong gain for the broader stock market. The stock is currently trading at a trailing P/E of 20.16, a forward P/E of 16.60 and a PEG ratio of 1.39. The median Wall Street price trarget on the stock is $125.00 with a high target of $160.00. Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts.