Shares swimming upstream against the current

Encore Boston Harbor and the smoke stacks from the Exelon facility. (Photo by Jim Mahoney)

Figures are bad but it might be a good time to buy stock


For those of you out there who are stock investors – and there are thousands of those in the city of Everett – you should pay close attention to Wynn Resorts stock’s ups and downs.

During the past six months, the stock has moved between $68 to $75 dollars a share.

At $68, there is almost the guarantee at current business income figures, the stock will rise to at least $75.

Getting over $75 has been difficult although that price level has been pierced several times during the past six months – but never for long.

The virus has destroyed Wynn’s business in Macau.

The business has come back a bit recently but remains about 80% off from last year’s figures.

Macau is Wynn’s cash cow. Seventy-five percent of its business is generated there.

Continue reading Shares swimming upstream against the current

Sexual harassment lawsuit against Steve Wynn dismissed


A lawsuit against Wynn Resorts filed by nine anonymous women who claimed they were sexually harassed by former CEO and founder Steve Wynn, has been dismissed by a federal judge.

The women filed against the company claiming it was well aware of the actions of its CEO and tried to cover up the misconduct.

This suit was filed many months following the publication of a Wall Street Journal investigative report that interviewed dozens of women who claimed they were sexually harassed by Steve Wynn and tormented by a culture of sexual harassment that apparently existed at Wynn Resorts.

That Wall Street Journal report led to Wynn’s resignation from the company he founded as well as leading to the sale of all his stock in the company as well as his resignation as the Republican Party’s chief of fundraising.

According to a detailed report about the federal ruling in Gambling News, an online publication, the women, all of whom worked at Wynn Resorts as manicurists and make-up artists elected to remain anonymous.

Continue reading Sexual harassment lawsuit against Steve Wynn dismissed

Steve Wynn to be Banned from Owning Casino License in Nevada

By Josh Resnek

The founder and former owner of the Wynn Company, whose vision and energy and money built the Encore Boston Harbor Hotel and Casino is being banned from owning a casino license in Nevada by the Nevada Gaming Commission.

Although Wynn Company was fined $35 million before they opened their doors here in June, Steve Wynn’s status was not determined in a legal way by the Massachusetts Gaming Commission except to note that he would not be allowed to be the licensee of the Encore facility and that his name could not appear on the facility identifying it.

The Nevada action now being taken comes as a result of a new spate of lawsuits against Wynn as well as a spate of older ones.

Continue reading Steve Wynn to be Banned from Owning Casino License in Nevada

— Eye on Everett —

Steve Wynn Called

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By Josh Resnek

Think about that.

Steve Wynn called me out of the blue on Monday.

“What did you think of the opening of the casino?” he asked me. “Spectacular in every way,” I answered.

“Yes,” he said, “Matt and all the others really pulled it together, didn’t they?

“Quite frankly, Steve, everyone is blown away by Wynn Resort’s talents, for the company’s ability to get the job done.”

“Quite a company I built, isn’t it, Josh?

“You got that right, Steve!”

“Back to the opening…were you there, Josh?”

“Couldn’t make it, Steve. I was in Pam Beach visiting my sister.” “I watched clips of it on television. Your boy Carlos the mayor paid homage to you, Steve.”

Yes. Carlos said wonderful words. He said he remained loyal to me in front of that huge crowd. He even cried! I thought that was a bit much. I didn’t realize how theatrical he can get.”

Steve laughed.

Continue reading — Eye on Everett —

As Mass Gaming Considers Wynn Suitability, An Unresolved Sexual Harassment Case Continues

By Walter Pavlo
Special to the Leader Herald

Wynn Resorts is nearing completion of its $2.6 billion casino here that is scheduled to open in June 2019 …. that is IF Wynn Resorts is found suitable to hold a gaming license in Massachusetts.

Starting this week, the Massachusetts Gaming Commission (MGC) will start to look at details of its investigation into sexual harassment actions and coverup of those actions by senior executives at Wynn.

The investigation was launched after a Wall Street Journal report detailed years of sexual harassment allegations at Wynn, mostly by its co-founder and CEO, Steve Wynn. Multi million dollar settlements with former female employees at Wynn and decades of inaction by senior staff led the Nevada Gaming Control Board to levy a fine of $20 million against Wynn, the largest ever in Nevada state gaming history.

Central in Nevada’s decision to allow Wynn to continue to have a license was its recognition of the significant changes the company made since Mr. Wynn’s departure (changed name of project in Boston, new board members, more women on board, sexual harassment policies, training, etc.). Continue reading As Mass Gaming Considers Wynn Suitability, An Unresolved Sexual Harassment Case Continues