Wynn Resorts Receives Update On Nevada Gaming Control Board Investigation

The Company's Top Executive Has Remained In Good Standing With The Regulatory Agency Since 2010

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Apr 10, 2019, 05:00 ET

LAS VEGAS, April 10, 2019 /PRNewswire/ -- Wynn Resorts received written confirmation today from the Nevada Gaming Control Board that, subsequent to its in-depth investigation of the Company resulting from allegations against the company's founder, CEO Matt Maddox was "found suitable as an officer of Wynn Resorts, Limited in Nevada in January 2010, and remains in good standing with the Nevada Gaming Control Board."

Wynn Resorts Chairman of the Board, Phil Satre, issued the following statement in response:

"In the past twelve months, the Wynn Resorts Board of Directors -- independent and with no extensive pre-existing relationships with each other or the executive team -- have been keenly focused on establishing the right direction and leadership for the Company.

"Matt Maddox has the full confidence of me as Chairman as well as the entire Board of Directors of Wynn Resorts as our CEO today, tomorrow, and into the future. Immediately upon taking over as CEO, Matt led the transformation of our company with a new executive team, new policies and procedures, and a new corporate culture – a transformation the Nevada regulators referred to at a hearing as a total 'paradigm shift.'

"No one deserves more credit, or has played a more critical role, in remaking Wynn Resorts as a company and responding to the past failures of now-departed leadership. Matt will do an excellent job leading our team of 25,000 employees worldwide, and with the expected opening of our $2.6 billion Encore Boston Harbor destination resort in Everett, MA."

About Wynn Resorts
Wynn Resorts, Limited (Nasdaq: WYNN) is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Wynn Macau (wynnmacau.com) and Wynn Palace, Cotai (wynnpalace.com).

Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,750 spacious rooms, suites and villas, approximately 192,000 square feet of casino space, 22 dining experiences featuring signature chefs and 11 bars, two award-winning spas, approximately 290,000 square feet of meeting and convention space, approximately 106,000 square feet of retail space as well as two showrooms; three nightclubs, a beach club and recreation and leisure facilities. Wynn Las Vegas recently unveiled Wynn Plaza, a Strip-front expansion that offers a collection of world-renowned luxury, contemporary, and lifestyle brands.

Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative Region of the People's Republic of China with two luxury hotel towers with a total of 1,008 spacious rooms and suites, approximately 273,000 square feet of casino space, casual and fine dining in eight restaurants, approximately 31,000 square feet of meeting and convention space, approximately 59,000 square feet of retail space, and recreation and leisure facilities including two opulent spas, a salon and a rotunda show.

Wynn Palace is a luxury integrated resort in Macau. Designed as a floral-themed destination, it boasts 1,706 exquisite rooms, suites and villas, approximately 424,000 square feet of casino space, 11 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 106,000 square feet of designer retail, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a lush spa, salon and recreation and leisure facilities.

Wynn Resorts is currently constructing Encore Boston Harbor located in Everett, Massachusetts.

SOURCE Wynn Resorts