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CEO Of Major Casino Company To Step Down In January


The Chief Executive Officer of a major casino company with a foothold in Las Vegas will be leaving his position in a few months.

According to a press release from Wynn Resorts Ltd, CEO Matt Maddox will step down from his position at the end of January, ending a nearly four-year tenure at the helm of the company. His final day will be on Jan. 31, 2022, and he will be replaced by Craig Billings the following day.

Billings was formerly the CFO of Wynn Resorts and is currently the CEO of Wynn Interactive, the subsidiary company of Wynn Resorts that operates Wynn’s online sports betting and casino business.

“This has not been an easy decision,” said Maddox in the release. “I am leaving a company that I love and that’s full of people I admire. But I believe now is the right time for me and for the business. The last four years have been challenging but extremely rewarding, and I am incredibly proud that we accomplished so much.”

Maddox was named CEO in February 2018 as founder Steve Wynn stepped down from the position in the wake of a sexual assault scandal.

During the four years with Maddox in control, he helped navigate the company through the regulatory problems stemming from Wynn’s misconduct, opened Massachusetts’ largest casino Encore Boston Harbor in June 2019, and led the company through the COVID-19-induced gaming shutdowns in 2020 and the subsequent reopening process. Wynn was also involved in negotiations to purchase the Crown Casino in Australia during Maddox’s tenure, although it never amounted to anything more than a talk.

He was one of the first CEOs to openly advocate for conventions and live entertainment to return to Las Vegas as he proposed a bubble-like atmosphere through mass testing in October 2020. The following spring, he made Wynn Resorts the first Las Vegas casino company to mandate the COVID-19 vaccine for employees.

Following Maddox’s vaccine order, Nevada’s gaming regulators gave Wynn and Encore Las Vegas the ability to operate at full capacity for the first time since March 2020. The two properties were the first Las Vegas Strip casinos to operate at full capacity since the shutdown.

Maddox will continue serving as a board member for Wynn Macau Ltd and Wynn Interactive through the end of next year.

 

 

 





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