"This brings to a conclusion the
"We are pleased that the
"The completion of the review by
Over the past year, the Company has taken many remedial actions, several of which were recognized by the Commission during the hearing:
- Executed a separation agreement with founder
Steve Wynnthat paid him no severance and arranged for liquidation of all his Wynn Resortsshares.
- Separated the roles of CEO and Chairman of the Board, consistent with current corporate best practices.
Matt Maddoxas CEO of Wynn Resorts.
- Commenced a robust Board refreshment process and, as of today, the median tenure of our eight independent directors is now less than two years. In
April 2018, the Board elected three new female directors, resulting in a Board that is now nearly 50% women. In August 2018, the Board elected Philip G. Satre, Richard Byrneand Matt Maddoxto its Board. Mr. Satre is Chairman.
- Ensured that any employee who was aware of allegations of sexual assault against
Steve Wynnand did not investigate or report it is no longer with the company.
Ellen Whittemore, a recognized expert in gaming regulatory matters, as General Counsel; appointed Marilyn Spiegel, an executive with significant hospitality and human resources experience, as President of Wynn Las Vegas; and appointed Rose Huddleston, a seasoned human resources executive, to the newly created corporate position of Senior Vice President of Human Resources, North America.
Under the leadership of CEO
- Launched enhanced Workplace Compliance and Prevention of Sexual Harassment training for all employees, designed and delivered by a third-party expert.
- Launched a
Women's Leadership Councilto promote equality within the workplace. The group's first activity was to produce a speaker series, "Women Who Thrive," to educate and inspire employees through powerful female role models.
- Commissioned pay and promotion equity studies to measure pay equality among men and women in the workforce.
- Launched a new Paid Parental Leave program that provides six weeks of paid time off to new parents.
- Implemented new Diversity, Inclusion and Unconscious Bias training for all employees taught by third-party experts. Company senior executives completed an eight-hour training program.
- Launched the
Great Placeto Work survey and focus groups which measure employee engagement against the Fortune "100 Best Companies to Work For."
- Launched a new annual
Wynn Employee Foundationscholarship program, which has awarded ten $7,500college scholarships to employees and their dependents.
Since the transformation of
- Coordinated the sale of all of Mr. Wynn's stock in the Company, including 8 million shares to two long-term institutional investors.
- Settled six years of litigation with
Universal Entertainmentfor $2.4 billion, an effective redemption price of $78per Company share.
$927 millionthrough the sale of 5.3 million shares in Wynn Resortsto Galaxy Entertainment Group, Macau.
- Resolved the litigation filed in 2012 by former Board Member Elaine Wynn, thereby finally resolving all claims in that litigation with no payment by
- Recognized by the
U.S. Department of Treasuryfor "substantial contributions" to investigations as part of the annual FinCEN Director's Law Enforcement Awards Program.
- Ranked as the highest casino resort on Fortune Magazine's 2019 World's Most Admired Companies list and first overall for Quality of Products among all international hotel companies.
- Achieved the
Forbes Travel Five-Starranking for all of its resorts internationally for 2019, and retained the honor of having a record eight Forbes Five-Starawards at Wynn Macauand being the highest rated independent resort company worldwide.
- Named among this year's Best Employers for Diversity by
ForbesMagazine, which recognizes the top employers in the United Statesfor their commitment to diversity and workplace culture. Wynn Resortswas one of only 14 hotel companies to be recognized in these rankings.
About Wynn Resorts
Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,750 spacious hotel rooms, suites and villas, approximately 192,000 square feet of casino space, 22 dining experiences featuring signature chefs and 11 bars, two award-winning spas, approximately 290,000 square feet of meeting and convention space, approximately 106,000 square feet of retail space as well as two showrooms; three nightclubs, a beach club and recreation and leisure facilities. Wynn Las Vegas recently unveiled
Wynn Palace is a luxury integrated resort in
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Deanna Pettit-Irestone, Wynn Las Vegas, 702.770.2121, email@example.com