By Josh Resnek
State Gaming regulators said Monday that Steve Wynn, the fallen founder of the company that bears his name, no longer has anything to do with the Massachusetts casino now called Encore.
The Gaming Commission’s ruling was a giant anti-climax following all the revelations about Wynn, about the possible sale of the project and the likelihood the commission would be taking the license away from Wynn Resorts.
Most of the hysteria about a sale and license forfeiture has subsided but the commission’s action Monday is considered a big step to the conclusions that will ultimately be made when the investigation is over sometime this summer and a decision is made about the future of Wynn Resorts in Everett.
Some of the wording of the commission’s decision reveals the thinking of the commission at this time, it is believed.
“The commission rejects the characterization 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,” the commission wrote.
The commission is correct.
No one holding more than $3 billion in personal wealth, with Wynn board members he appointed, is without influence in Las Vegas, Nevada.
Wynn has been removed as a qualifier.
Wynn Resorts has implemented a policy that requires officers and directors to report any direct or indirect communication with Steve Wynn to Wynn counsel.