The Chief Executive Officer of the Wynn Resorts, Matt Maddox has confirmed that the group will not appeal the fine they received from the Massachusetts Gaming Commission, which we reported on back on 1st May.
Wynn Resorts were fined a whopping $35m by the MGC, which also saw Maddox personally hit with a $500,000 penalty, after a year long investigation by the MGC into allegations of sexual assault, misconduct and other inappropriate behaviour.
Yesterday it was confirmed that Wynn Resorts had paid the fine and that the amount owing by Maddox was also cleared. In a statement issued in relation to this matter, Wynn Resorts said: “The Board of Directors disagrees with a number of the Commission’s comments and conclusions regarding Matt, and believes they are not supported by the evidence.”
“Therefore, we would support his decision to exercise his rights and appeal the fine imposed upon him, and believe he would rightly prevail in his appeal. However, that appeal would delay the final conclusion of this matter, and therefore we appreciate Matt’s decision to forego an appeal in order to allow closure for the Company.”
The fine is likely to have little to no effect on the group, with Wynn Resorts posting a $803 million profit based on revenues accrued of $6.717 billion in 2018.
