Company: Wynn Resorts
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.