Zenith Invests in Wynn Las Vegas Project

The Los Angeles Times yesterday reported that Zenith National Insurance Corp., though an operating subsidiary, purchased 1 million shares of Wynn Resorts Ltd. for $13 million. Wynn will then build Reve, a $2.4-billion hotel-casino that is the latest venture of Las Vegas veteran Steve Wynn. Wynn's proposed resort on the Strip where the old Desert Inn used to be will include an eight-story "mountain," a Ferrari and Maserati dealership, a gallery to display Wynn's art collection and an 18-hole golf course.Zenith Chairman Stanley Zax, reported to be a friend of Wynn, told the Times that he believe...