Fate of Wynn Resorts in Massachusetts now being discussed
The Massachusetts Gaming Commission has begun its hearing on the future of the company in the state
When Wynn Resorts applied for a gaming license in Massachusetts in 2013, everything appeared to be in order. The company had a strong history, its founder and CEO, Steve Wynn, was a respectable and head-smart businessman and the Massachusetts Gaming Commission (MGC) saw nothing less than a legitimate company. That all changed early last year and the MGC now wants to know if Wynn Resorts deserves to continue to hold a license in the state.
After Steve Wynn was devastated following allegations of sexual misconduct, Wynn Resorts came under investigation by several jurisdictions, including Nevada, Massachusetts and Macau. Nevada and Wynn Resorts have already reached an agreement through which the company was ordered to pay a $20-million fine and it also publicly acknowledged that certain individuals at the organization were aware of what Steve Wynn was doing, but didn’t try to stop it.
The story behind that statement is one of the basic premises behind the MGC’s current action against the company. It now asserts that Wynn Resorts was issued its license for the Encore Boston Harbor project under possibly false pretenses and has begun a hearing today in order to determine whether or not the license should be revoked.
Among those who will be testifying are Wynn Resorts CEO Matthew Maddox, Executive VP Ellen Whittemore and board chairman Philip Satre. Also ordered to appear was someone perhaps Steve Wynn wishes had been left out – his ex-wife. Elaine Wynn, who took over the company when Steve Wynn resigned and began pushing out the “good ol’ boys” club, most likely won’t be painting a pretty picture of what transpired.
However, despite any personal animosity, no one currently involved in Wynn Resorts wants to risk the $2.6-billion Boston project. To that end, they are almost certainly going to try to put all the responsibility squarely on the shoulders of Steve Wynn, despite fostering a culture that allowed their leader to get away with his sexual proclivities.