Wynn Resorts Pays $35 Million Fine, CEO Maddox’s $500k Fine

Wynn Resorts announced Tuesday it would not appeal its fine, and CEO Matt Maddox said he would not appeal his personal fine either – with both fines being delivered to the Massachusetts Gaming Commission (MGC) in the afternoon.

MGC Spokesperson Elaine Driscoll confirmed that both fine payments had been received by 3:15 p.m. Tuesday.

That fine, however, did not come without a verbal protest from the Board of Directors.

“The Board of Directors disagrees with a number of the Commission’s comments and conclusions regarding Matt, and believes they are not supported by the evidence,” read a statement sent out Tuesday. “Therefore, we would support his decision to exercise his rights and appeal the fine imposed upon him, and believe he would rightly prevail in his appeal. However, that appeal would delay the final conclusion of this matter, and therefore we appreciate Matt’s decision to forego an appeal in order to allow closure for the Company. The Company will pay the fine imposed on him and has today delivered payment of that, and the Company’s fine, to the Commission.”

The Board did say it would not appeal any of the findings in Massachusetts, and it added that Maddox has created a new paradigm in the company. It defended him by saying that, unlike the MGC report, the Nevada Gaming Control Board praised the actions taken by Maddox since he took over.

“The Nevada Gaming Control Board, under whose jurisdiction the alleged activities of our founder occurred, conducted its own year-long investigation and recently reaffirmed Matt Maddox’s good standing in Nevada, and praised him for creating a ‘paradigm shift’ and for taking ‘corrective actions that [have] been impressive,’” read the statement. “We believe Matt’s leadership has been, and will continue to be, essential in our transformation from a founder-led company to an innovative global corporation.”

The statement concluded by indicating Wynn Resorts looks forward to working with the MGC, and is on track to open on June 23.

The MGC, for its part, recently put out a Request for Response (RFR) to procure an independent monitor to oversee the Wynn Resorts actions at Encore Boston Harbor. That was called for in the MGC’s investigation and decision on April 30.

The primary focus of the independent monitor’s review and evaluation will be the Massachusetts licensee. The scope of the review will include the policies and organizational changes adopted by the Company as described during the recent adjudicatory hearing process in April. The MGC is attempting to gain an understanding as to whether the approaches put in place by the Company are consistent with recognized best practices and are in fact effective.

A meeting of the MGC is expected today, May 29, to discuss numerous matters related to the Encore Boston Harbor opening.

MGC approves extended 4 a.m. liquor license for Encore

The Massachusetts Gaming Commission (MGC) approved an extended 4 a.m. liquor license for Encore Boston Harbor by a vote of 4-1 on Wednesday, May 22.

The MGC had discussed the matter at its May 6 meeting in-depth, as well as the other numerous regular 2 a.m. closing licenses that the casino requested.

A comment period was initiated with Mayor Martin Walsh and Councilor Lydia Edwards voicing displeasure with the idea of granting the extension, which is only for those involved in active gaming. The last call is 3:30 a.m.

They can re-open at 8 a.m.

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