“We do not believe, if we choose to appeal, that it will impact our ability to open the project at the end of June.”īeyond the $35 million fine to the company, the Massachusetts Gaming Commission has also levied a $500,000 personal fine on Maddox and ordered Wynn Resorts’ board to hire an executive coach to train Maddox on leadership development, communication, sensitivity to human-resources issues and team building. “We are still reviewing the decision as it relates to some of the secondary and tertiary conditions,” Maddox said on the first-quarter earnings call.

Wynn Resorts’ first-quarter earnings report highlights a $35 million “nonrecurring regulatory expense.” A company spokesperson confirmed that “under appropriate accounting requirements, we have accrued $35 million for the fine imposed by the MGC.”īut Wynn Resorts has not confirmed it will comply with all of the stipulations set by state gambling regulators as a condition of keeping its casino license in the state. Commissioners have said Wynn has until May 31 to pay the fines. But regulators assessed a $35 million fine on the Las Vegas-based gambling empire and a $500,000 fine on Maddox. (Nasdaq: WYNN) is suitable to hold a casino license in Massachusetts. Maddox’s comments were in response to last week’s Gaming Commission decision, which found that the Wynn Resorts Ltd. “We may give ourself another week, we may not. And so now we’re doubling back,” Maddox said. And clearly the regulatory complexity we’ve been through has been a challenge. “I don’t know if the opening date will be June 23 or a week or two later, because we’re going to make sure that it’s flawless. could push back the planned June 23 opening of its Encore Boston Harbor casino in Everett to make sure the property is “flawless,” CEO Matthew Maddox said during the company’s first-quarter earnings call Thursday afternoon. Wynn Resorts could push back Encore Boston Harbor opening, CEO says

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