Wynn CEO to Face Massachusetts Gambling Regulators
Wynn Resorts Ltd. is committed to keeping their gaming license in Massachusetts. CEO Matt Maddox will appear before gambling regulators in the state on Friday to prove his company has changed its culture in the wake of its founder’s sexual misconduct scandal.
At the meeting, the board will review whether Steve Wynn, former chairman and CEO and serial sexual predator of the company, still has a legal connection to the $2.5 billion casino project on the outskirts of Boston. Mr. Wynn resigned and sold all his stake in Wynn Resorts last month.
Maddox assures the board that the company no longer has any business association with Steve Wynn. To completely remove any ties, the company is changing the name of their Massachusetts casino from Wynn Boston Harbor to Encore Boston Harbor.
In addition to reviewing the possibility of Mr. Wynn’s continued involvement or legal connection to the company, they are currently investigating executives and company officials who may have known about Mr. Wynn’s sexual misconduct and helped keep it under wraps. Commissioners say the scandal, along with a multi-million dollar settlement that went to a victim of Mr. Wynn, was actively kept from them.
In response to reports from media outlets that reported a potential sale for the Boston area casino to MGM, Maddox said the casino is not on the market. MGM is currently constructing a casino in Springfield Massachusetts, and the state only allows one casino per license holder. MGM also released a statement saying they remain committed to Springfield.