Who leaves a job at $25 million a year?
By Josh Resnek
The mystery surrounding Wynn Resorts CEO Matt Maddox’s departure from the company continues to grow in the absence of additional information first published in the New York Post and the Las Vegas newspaper last week.
The Post reported that Maddox had been investigated by the Wynn Board of Directors about a potential problem that was allegedly company related but had come up with a clean bill of health, apparently, according to industry sources.
However, Maddox leaving is big medicine in the gaming world.
Maddox sits at the very top of the premier gaming enterprise in the world, a gaming juggernaut about to explode with billions of new business when their sports betting platform takes shape and form.
Industry analysts say that Wynn Resorts is trying to get out of the hotel business, and even the casino business, in order to pay closer attention to the making of billions of dollars on Internet gaming.
Rumors circulated two weeks ago that Wynn was attempting to lease its gambling and hotel operation here to Mohegan Sun at a pretty penny while at the same time redoubling its effort to become the nation’s leading gaming on line industry giant.Continue reading “Why is Matt Maddox Stepping Down? Mystery Surrounds His Departure”