The Nevada Gaming Control Board and Wynn Resorts were able to reach an agreement recently involving an investigation into former CEO Steve Wynn and allegations involving sexual misconduct. The investigation took a year to complete and the CEO of Wynn Resorts is now trying to provide reassurance to investors of a Boston casino that the same outcome will take place in Massachusetts.
Matt Maddox, the CEO of the company, has provided assurances to investors that the Boston Encore Casino will continue as planned. The Massachusetts Gaming Commission is currently conducting an investigation similar to what took place in Nevada regarding Steve Wynn. Maddox has told investors that the casino coming to the Boston area will remain on schedule.
The Massachusetts Gaming Commission started an investigation into the company when the allegations against Steve Wynn came to the public eye. The regulatory group wants to determine what the executives of the company were aware of as well as if the company addressed the work environment in the right way.
For the Nevada investigation, it was decided that Wynn Resorts did their part based on the allegations. The board is now 50% female and the investigation of the company has come to an end. The commission in Massachusetts have yet to come to a conclusion and rumors have surfaced that the company may lose their license in the state.
Maddox has worked hard to squash such rumors, speaking during a recent earnings call, stating that everything is fine in Nevada. He also commented on the investigation in Massachusetts, pointing out how the investigation has been handled seriously and now Wynn Resorts is looking forward to a hearing and ready to present their case.
The Encore Boston Harbor Casino is set to open in June in the area of Everett, Massachusetts. According to Maddox, the casino will remain on track for the scheduled opening.
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