When Kim Sinatra appeared beside Matt Maddox for Wynn Resorts’ high-stakes meeting before the Massachusetts Gaming Commission (MGC) in early May, many thought her to be on shaky ground with the company – though that day she appeared to be every-bit in control and ingrained in the company.
It is no longer the case.
In a quiet announcement buried within a federal Securities and Exchange Commission (SEC) document, the company announced that Sinatra would be leaving her general counsel post on July 15.
Wynn Resorts did not respond to the Independent for comment on the shake-up, and hasn’t issued any statements or talked to any other media. There has been no reason given for her departure.
Las Vegas media reported that Sinatra would have a severance package of up to $9.5 million.
Wynn Shareholder Elaine Wynn – now the company’s largest single shareholder – has disputed that severance package in media statements.
Sinatra was a powerful force in the early days of Wynn’s entrance into the Boston market via the Everett site. She was front and center during many of the licensing hearings, in particular a very intense deliberating process at the Boston Teacher’s Union Hall in Dorchester in 2014.
During that meeting, Sinatra talked for many nervous moments on the phone with Steve Wynn about whether or not he would commit to additional mitigation measures – that happening in front of the entire room and in front of the competitor, Mohegan Sun.
After brokering that deal, Sinatra emerged from the phone with a ‘yes’ to the commitments, virtually sealing the license for Wynn at the time.
Since those early days, however, Sinatra has not been at the Encore site too often – only during a few permitting meetings and the major Massachusetts Gaming Commission (MGC) meetings.