Steve Wynn: Obamacare is the Single Most Ridiculous Piece of Legislation

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Steve Wynn: The markets don't like uncertainty

Wynn Resorts CEO Steve Wynn on how the election has impacted the marketplace.

With only hours left before Election Day, one billionaire businessman says it has been difficult to fully support either major party candidate.

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Steve Wynn, CEO of Wynn Resorts, said that despite liking both candidates personally, he couldn’t bring himself to donate to either campaign.

“I’m a little confused about the presidential election... I didn’t support either candidate financially," he said. "I know both people and I do like Hillary and Bill Clinton and I’ve known and liked Donald Trump for over 30 years.”

Wynn also commented on the impact that the Affordable Care Act has had on his business.

“Obamacare, the single most ridiculous piece of legislation, it’s destroying the paychecks of my employees and it was cunningly designed so that the big, big misery would come after this election,” he explained.

The billionaire businessman discussed the significant role the healthcare law has played in the presidential election.

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“I know that Hillary Clinton thinks it needs to be fixed. She said it to me personally. I know that Donald Trump knows that it’s no good but this piece of junk, this affordable, unaffordable care act was passed with violating the Senate rules, really, and it needs to be fixed desperately because America is going to rise up in real revolt when they figure it out,” Wynn said.

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Wynn then addressed the uncertainty the market has experienced throughout this lengthy election cycle. On Monday, financial markets re-priced odds for a Clinton victory after the FBI declined to take any new action against the Democratic presidential nominee regarding her use of a private email server. By mid-afternoon on Monday, the Dow Jones Industrial Average surged more than 300 points.

“The markets don’t like uncertainty and the issue is that big element of uncertainty seems to have been minimized at this point, and I think that’s what the traders are showing us,” Wynn said.

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