Wynn removed from Boston casino licence

State casino regulators have reached an agreement to remove Steve Wynn’s name from a license that his former company was issued to operate a $2.5bn resort casino currently under construction in Boston, Massachusetts.

wynnbostoncasino

This move will see the casino giant effectively severing ties with the founder of the company and former chief executive.

As a result of the agreement, Wynn has been removed as a ‘qualifier’ for the company’s Everett casino project, as long as he does not vote at the company’s 16 May annual shareholders meeting.

Lawyers for the company and for Steve Wynn had applied to the Massachusetts Gaming Commission to have Wynn removed noting that he had resigned from the company in February before liquidating his shares in Wynn Resorts.

In a statement, Wynn’s lawyer wrote: “The commission rejects the characterisation by Mr. Wynn’s legal counsel that he is nothing more than an ordinary private citizen of the State of Nevada vis-a-vis Wynn Resorts.

“There is, however, substantial evidence that the relationship between Mr. Wynn and Wynn Resorts has been terminated in a meaningful way such that Mr. Wynn no longer falls with the definition of qualifier at the conclusion of the upcoming annual shareholders meeting.”

It has been several months since Wynn formerly resigned from the company back in February, following sexual misconduct allegations that he has since denied.

Nonetheless, the decision does not end a separate investigation by the commission into Wynn Resorts and its handling of the sexual misconduct allegations.


Casino News Sponsor
Premium+ Connections
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Nederlandse Loterij
Relax Gaming
Hoiana Resort & Golf
Tipico
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...