Leader Herald Staff Report
Wynn Resorts CEO Matt Maddox sold 18,900 shares of the firm’s stock in a transaction on
Monday, February 4th, the Security and Exchange Commission has reported.
The stock was sold at an average price of $124.15, for a total value of $2,346,435.00.
Following the completion of the sale, Maddox now directly owns 487,399 shares of the company’s stock, valued at $60,510,585.85.
The coming storm and will be vindicated or vilified when the Massachusetts Gaming
Commission announces whether Wynn/Encore will be deemed suitable to hold the gaming license it needs in order to open its doors in June.
If deemed unsuitable, the project by law will be completed by Wynn but would have to be sold to another bidder, who would again have to be found suitable to hold a Massachusetts Gaming license.
Maddox, who got his wings in the business under Wynn’s everyday tutelage for 12 years,
claims he had no idea what Wynn was doing with regard to women and sexual harassment allegations against him.
Some believe this is impossible.
Others claim it could be absolutely true although it is hard to imagine.
Knowing Maddox has $60 million in stock does not give much impetus to those feeling he will be hurt if Wynn doesn’t receive a suitability rating.
The MGC will be coming out with the results of its long awaited investigation, probably in April sometime.
The ruling by the MGC will end all speculation but it will not end the five lawsuits now filed and pending against Wynn, Steve Wynn, and the original landowners.