Wynn resort given green light as firm moves on from misconduct charges

Wynn resort given green light as firm moves on from misconduct charges

Friday, May 11, 2018 Posted by Michael Lawson
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The resort will now be called the Encore Boston Harbor.

The Massachusetts Gaming Commission has given Wynn Resorts the green light to a state licence for its under-construction casino resort at Boston Harbor.

Wynn managed to convince regulators that Steve Wynn, the fallen founder of the casino giant, no longer has anything to do with the Massachusetts gaming house that was once destined to bear his name.

The move means that Wynn Resorts, which last week proposed to rename the Everett, Massachusetts scheme as Encore Boston Harbor, is free to continue developing and then operating the $2.5bn project under the terms of the licence.

In a statement, the regulator said the five-member commission had concluded that Steve Wynn “will no longer be considered a qualifier to Wynn Resorts, or Wynn MA, upon the written verification that he did not exercise voting rights at the 2018 Wynn Resorts shareholders’ meeting”.

Under state law, the commission must consider seven categories when determining the status of an individual qualifier – i.e. a person with a professional interest in a gaming licence.

The evidence presented during the hearing and later considered by the five commissioners noted Steve Wynn’s resignation as chair of the board of directors and as Chief Executive Officer of Wynn Resorts, as well as a separation agreement between Wynn Resorts and Steve Wynn, outlining the terms of disassociation.

The evidence also demonstrated that Steve Wynn, who previously owned 11.8% stock in the company, has divested his interest and is now listed at zero shares.

This development is the latest chapter in the story of Steve Wynn, the tycoon who has been accused of multiple instances of sexual misconduct.

Totally Gaming says: Wynn Resorts will be ecstatic with the news that the firm’s Boston Harbor casino resort has been given a gaming licence by the Massachusetts Gaming Commission. The company fought hard to ensure Steve Wynn’s sordid conduct did not put a halt to the plans. It’s worth noting that Steve continues to fight the charges, but his reputation continues to take a bruising in the meantime.

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