Wynn Resorts CEO Maddox cleared by American gaming commission

Macau (MNA) – Wynn Resorts received written confirmation from the Nevada Gaming Control Board that CEO Matt Maddox was “found suitable as an officer of Wynn Resorts, Limited in Nevada in January 2010, and remains in good standing with the [Board].”

Maddox was being investigated by the Massachusetts Gaming Commission in relation to allegations that he was in the know about improper behaviour by the former Chairman and founder of the company with interests in Macau, Steve Wynn, who is being accused of sexual harassment – accusations which Mr. Wynn denies.

‘The Commission also questioned Mr. Maddox regarding his knowledge of allegations against Mr. Wynn. While the IEB [Investigative and Enforcement Bureau] Report sets forth a litany of information as to others ’knowledge of allegations of sexual misconduct by Mr. Wynn and those individuals’ failure to act, there is no finding regarding Mr. Maddox in that regard,’ the report produced by the Gaming Commission reads.

Wynn Resorts came to the defence of CEO Matt Maddox, writing in a release on Wednesday that the Chairman of the Board, Phil Sartre, was fully confident in Mr. Maddox’s ‘abilities.’

“Matt Maddox has the full confidence of me as Chairman as well as the entire Board of Directors of Wynn Resorts as our CEO today, tomorrow, and into the future. Immediately upon taking over as CEO, Matt led the transformation of our company with a new executive team, new policies and procedures, and a new corporate culture – a transformation the Nevada regulators referred to at a hearing as a total “paradigm shift’,” Mr. Sartre was quoted as saying in the release.