This company, co-founded by Steve Wynn, opened its first project, Wynn Las Vegas, in 2005. This was soon followed by Wynn Macau in 2006, which was a tremendous financial success. These were followed by Encore and then Wynn Palace on Macau’s Cotai Strip. Wynn Boston Harbor is the company’s latest development. Wynn’s resorts are known for a meticulous focus on design and ultra high-end luxury. After being accused of sexual misconduct, company founder Steve Wynn was replaced by Matthew Maddox in early 2018.
Wynn Resorts is aiming to build a major urban IR in the Kanto region.
Family Name: Satre
Given Name: Philip
Profile: Deeply experienced in the gaming industry, Satre was at one point the chairman and CEO of Harrah's Entertainment. More recently, he has been president of the National Center for Responsible Gaming. Satre joined the board of Wynn in August 2018 and was promoted to chairman in November 2018. He was brought in as a figure to restore an image of integrity to the company after the sexual misconduct accusations against the firm's co-founder, Steve Wynn.
Family Name: Billings
Given Name: Craig
Role: President and Chief Financial Officer
Profile: With more than two decades of experience in the financial side of the gaming industry, Billings had stints at a number of companies, including Goldman Sachs, International Game Technology, and Aristocrat before joining Wynn Resorts in 2017. In May 2019, he was promoted to the position of president and chief financial officer.
Family Name: Maddox
Given Name: Matthew
Role: President and CEO
Profile: With a career that began in Bank of America and Caesars Entertainment before we joined Wynn Resorts in 2002, Maddox rose up through the financial divisions of the company until he became President in 2013. When company founder Steve Wynn was forced to step down over personal scandals in early 2018, Maddox assumed the role of CEO as well. He then moved quickly to resolve a series of legal disputes associated with his predecessor.
Family Name: Gordon
Given Name: Chris
Role: President of Wynn Resorts Development Japan
Profile: Trained as an engineer, Gordon had deep experience in real estate development before joining Wynn. For example, he was for a time the COO for the Allston Development Group, the real estate development arm of Harvard University. He was also the founder of his own firm, the Dirigo Group. His main project for Wynn has been the development of Encore Boston Harbor.
Family Name: Henry
Given Name: Keith
Role: Japan Representative
Profile: Henry has decades of experience in Japan, filling numerous roles at the intersection of government and big business. He is the founder and managing director of Asia Strategy, an advisory firm. Henry was employed by Wynn Resorts to be its main representative in Japan for several years before they began in 2019 to build up a more substantial domestic presence.
Family Name: Wynn
Given Name: Elaine
Role: Largest Shareholder
Profile: Elaine Wynn, as the ex-wife of Steve Wynn, was a co-founder of Wynn Resorts in 2000 and is currently its largest shareholder. The 2009 divorce between Elaine and Steve Wynn was a bitter one. After Steve Wynn lost his stake in the firm in 2018, following multiple sexual harassment charges filed against him by company employees, Elaine Wynn emerged as an independent and influential force.
Family Name: Wynn
Given Name: Steve
Profile: Before the collapse of his reputation in early 2018 over multple sexual assault allegations, Steve Wynn was regarded as a titan of the Las Vegas gaming industry, in which he had worked since 1967. Much later in his career, Wynn co-founded Wynn Resorts, whose IR developments in Las Vegas and Macau were regarded as some of the most innovative and well-designed.
Family Name: Stern
Given Name: James
Organization: Global Gaming & Resort Security
Role: Chief Executive Officer and Managing Partner
IR Stance: Advocate
Profile: After more than two decades working in the FBI, Stern joined Wynn Resorts in 2007, eventually becoming its Executive Vice-President of Corporate Security and Investigations. In April 2019, he resigned from his service at Wynn Resorts after accusations that he had engaged in spying on Wynn employees that was regarded as improper. Currently, Stern is CEO and Managing Partner of Global Gaming & Resort Security, a security firm based in Las Vegas but eyeing contracts in Japan and East Asia.
From last November, when Osaka won its bid to host the 2025 World Expo, until August of this year, when Yokohama announced that it was entering the race, Osaka Yumeshima was looking like it would become host to the grandest and most successful IR in Japan.
Wynn Resorts has confirmed to AGB Nippon that it has quietly withdrawn from the IR race in Osaka and will focus its efforts on gaining an IR license in the Kanto region.
Wynn Resorts has received a second lawsuit, this time from nine female employees, over the way it handled sexual harassment allegations against former Chairman and CEO Steve Wynn.
Wynn Resorts saw year-on-year revenue growth across all of its properties in the April to June 2019 period, particularly in Macau and Las Vegas.
Construction for Wynn Resorts’ Phase 1 South Parcel Pavilion and 650 room hotel tower is expected to commence in late 2021, with costs estimated at US$2 billion.
The Nihon Keizai Shinbun is bringing its high-powered IR Forum to Osaka, marking the third in the Nikkei series, but the first held in the Kansai region.
The six major IR operators in Macau are directly employing more than 108,000 people as of 2018, according to a survey made by Macau Business magazine.
Wynn Resorts Development Japan President Chris Gordon held a presentation for journalists last week in which he introduced Encore Boston Harbor to a Japanese audience and suggested that there were useful lessons for a major urban IR in Japan as well.
Lines of up to 4,000 people at a time formed at the opening of Encore Boston Harbor on Sunday, as initial reactions from the public and the local media were extremely positive.
James Stern, the former executive vice-president of corporate security and investigations dismissed by Wynn Resorts in April, held a press conference in Tokyo in which he provided his views about the security needs of casinos in Japan once the first IRs open in the 2020s.
A Macau appeals court has upheld a ruling that sees Wynn Macau acquitted of a US$1 billion compensation claim made by Japanese gaming mogul Kazuo Okada.
Gaming Partners International (GPI), recently become a wholly-owned subsidiary of Japan’s Angel Holdings, has been selected as the main casino equipment supplier for Wynn Resorts’ soon-to-be-opened Encore Boston Harbor.
US casino operator Wynn Resorts has appointed its Chief Financial Officer Craig Billings to president and chief financial officer of the company, effective May 29, 2019.
It has recently become possible to understand with increased clarity which IR operators will be bidding for Japan’s two major markets—the Kanto and the Kansai—and where each of them are now focusing.
MGM Resorts has abandoned talks with Wynn Resorts over the sale of its US$2.6 billion Encore Boston Harbor casino, according to an announcement on Tuesday night.
The US$2.6 Billion Encore Boston Harbor hasn't even opened its doors yet, but it has emerged that Wynn Resorts—whose license was only quite recently confirmed by the Massachusetts Gaming Commission—is negotiating a possible sale of the facility to MGM Resorts.
Wynn Resorts said it is open to acquiring “tier-one first class” casino operators, despite walking away from a Crown Resorts acquisition deal last month.
Strong results for Wynn Palace in Macau's Cotai Strip were not enough to fully offset the total revenue decline for Wynn Resorts in the January-March 2019 period.
As part of his Golden Week travels abroad Minister of Land, Infrastructure, Transport and Tourism Keiichi Ishii visited two IRs in Macau for research purposes on May 3. Specifically, he was given tours of Melco’s City of Dreams and Wynn Palace in the Cotai Strip.
Wynn Resorts has been fined US$35 million for not disclosing sexual misconduct allegations against founder and former CEO Steve Wynn by Massachusetts gaming regulators, but has been allowed to retain its license for Encore Boston Harbor in Everett, Massachusetts, which opens in June.
The embattled founder of Wynn Resorts, Steve Wynn, may soon find himself banned from entering the very properties he helped design should a proposal from Wynn Resorts come to fruition.
Wynn Resorts said Nevada regulators had confirmed its CEO Matt Maddox was “suitable” to hold his position after a lengthy investigation into the company following sexual misconduct allegations against founder Steve Wynn.
Wynn Resorts has taken its offer for Crown Resorts off the table, just a day after confirmation of a potential takeover sent shares in the Australian operator soaring almost 20%.
Wynn Resorts has made a big move in attempting a US$7.1 billion cash and stock buyout of major Australian IR operator Crown Resorts.
Regulators in Massachusetts say Wynn Resorts failed to follow its own procedures when handling sexual misconduct allegations against founder and former CEO Steve Wynn, and in some cases helped to conceal those accusations.
Activist investor Carl Icahn again raised his stake in Caesars Entertainment on Monday and is likely to push for a sale of the operator, though Las Vegas Sands is the only one with the funds for a cash-based takeover, Bernstein Research said.
At a press conference held for the Japanese media on the 5th, Wynn Resorts Development Japan President Chris Gordon said that his company was proposing to build the world’s largest IR in a city such as Tokyo, Yokohama, or Osaka.
Wynn Resorts has announced that it will open an office in the Marunouchi district of Tokyo this summer, with the purpose of tightening its relations with Japanese partners and bidding for an IR license in major urban markets.
The Nevada Gaming Commission has fined Wynn Resorts the record amount of US$20 million for its inappropriate handling of sexual misconduct allegations against company co-founder Steve Wynn, who was forced the sever ties with the firm early last year.
One of the objectives of the establishment of IRs in Japan is to attract a new class of VIP visitors who spend significant amounts of money during their stay. According to Yoshiko “Mimi” Koga, a freelance casino consultant and writer with some years of experience of VIP marketing for Wynn Resorts, more thought needs to be given to these VIP services.
Matt Maddox, president and chief executive officer of Wynn Resorts, told an earnings investment call on Wednesday that his team is "very active" and "well positioned" to gain an IR license in Japan.
Wynn Resorts has agreed to drop their lawsuit against Genting’s Resorts World Las Vegas after reaching a settlement on Monday.
US casino operator Wynn Resorts will be paying a settlement with the Nevada Gaming Control Board after an investigation found that former executives failed to investigate and act on allegations of sexual misconduct against founder Steve Wynn.
US casino operators Wynn Resorts and MGM Resorts have each been recognized as among of the “World’s Most Admired Companies” by Fortune magazine’s annual survey.
The court battle between Genting Las Vegas and Wynn Resorts over claims of copycat building design has been moved to January 29, local media reports.
Genting Group’s Resorts World Las Vegas has been accused of trademark infringement and unfair competition in regards to its under-construction US$4 billion Las Vegas property set to open in 2020, local media reports.
Mohegan Gaming & Entertainment has told an American newspaper that should the Massachusetts Gaming Commission find that Wynn Resorts is unfit for a license to open its US$2.5 billion Encore Boston Harbor casino complex, that they are ready to step in and buy the property.
At least three of four of the major US casino operators will continue to rely on Macau as their growth engine over the next five years, said Bernstein in a note. These companies include Wynn Resorts, Las Vegas Sands, and to some extent, MGM Resorts.
The Nihon Keizai Shinbun’s high-powered IR Forum in Tokyo drew more than six hundred guests, not including the many others who reportedly had to be turned away by an excess of applications. The event brought together government officials, IR operators, analysts, and others for an intensive day-long event last Wednesday.
Tak Chun Group, a Macau junket operator, on Monday held a grand opening for its new VIP room at the MGM Cotai and said it was planning overseas expansion in the coming year.
It was fully anticipated that Connecticut-based Foxwoods Resort Casino and Mohegan Gaming & Entertainment would see their revenues suffer with the opening of MGM Springfield in neighboring Massachusetts, but now the first figures are in—both of the Native American tribe-owned casinos witnessed revenue falls of 10% in October.
All four Las Vegas-based operators which are in the hunt for an IR license in Japan reported strong financial results in the July-September period.
Hopes that Wynn Resorts had fully moved on from the Steve Wynn era were dashed last Wednesday when the scandal-plagued former chairman and CEO sued the company that he had co-founded. Steve Wynn also sued the Massachusetts Gaming Commission.
Wynn Resorts says its board voted to appoint Philip G. Satre as chairman, taking over from D. Boone Wayson, who is retiring.
Systemic shifts in the long-term relationship between China and the United States are underway, with the two economic superpowers charting an increasingly divergent path, and the change in course may have major implications for Macau’s operators, according to a leading risk consultancy.
In a clear sign that Wynn Resorts is now in the midst of ramping up its IR campaign, the company’s Japanese-language website has been fully redesigned and upgraded, going live on Monday.
Wynn Resorts is preparing to open its Japan IR development office before the end of the year, said Chris Gordon, president of Wynn Resorts Development, to AGB Nippon in an exclusive interview.
In a telephone call with investors, Wynn President and CEO Matthew Maddox reaffirmed his company’s keen desire to gain an IR license in Japan.
Wynn Resorts has announced the appointment of Erik Hansen as the company’s first Chief Sustainability Officer.
Among the major IR operators, Wynn Resorts has been somewhat quieter about its interest in Japan than most others, but Chris Gordon, president of Wynn Resorts Development, tells AGB Nippon in an exclusive interview that this will soon change.
Deutsche Bank analysts have trimmed their 2018Q2 forecast for Wynn Resorts, mainly due to lower-than-anticipated VIP volumes, increasing competition, and the impact of the World Cup.
Galaxy Entertainment founder and Chairman Lui Che-Woo said his company has no plans to increase its 4.9 percent stake in Wynn Resorts, damping speculation it may have been planning a full takeover.
Shareholders in Wynn Resorts voted by an overwhelming majority to reject a new executive compensation package presented by management.
Wynn Macau is considering adding more non-gaming facilities for the second phase of development at its Wynn Palace Cotai resort, Chairman Allan Zeman told reporters at G2E Asia.
In her latest attempt to ‘freshen up’ the Wynn Resorts board, co-founder and majority shareholder Elaine Wynn is seeking support from shareholders to stop the re-election of one of its long-standing directors, John J. Hagenbuch.