Wynn Resorts pays $35.5 million Massachusetts fines
BOSTON - Wynn Resorts on Tuesday paid the $35 million fine imposed on it by the Massachusetts Gaming Commission and the $500,000 fine imposed on CEO Matt Maddox, though the company’s board of directors said it strongly disagreed with the commission’s punishment of Maddox.
Last month, the commission ruled that Wynn Resorts could keep the license for its $2.6 billion Everett casino despite errors in handling issues involving Steve Wynn and the “considerable shortcomings” of Maddox, the current chief executive who was Steve Wynn’s hand-picked successor. The commission fined the company $35 million, fined Maddox $500,000 and ordered that the company agree to be monitored by an independent observer.
“The board of directors of Wynn Resorts appreciates the findings by the Massachusetts Gaming Commission that it, and its qualifiers, remain suitable by clear and convincing evidence. The company will not file an appeal,” the company’s board wrote in a statement Tuesday.
But the board members, who testified in strong support of Maddox during the commission’s adjudicatory hearing in early April, said they “do not agree” with the commission’s finding that Maddox violated the company’s own policies and said a number of the commission’s statements related to Maddox “are not supported by the evidence.”
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