LAS VEGAS, Jan. 28, 2019 /PRNewswire/ -- Wynn Resorts
(NASDAQ: WYNN) today issued the following statement in response to
the filing of a disciplinary complaint by the Nevada Gaming Control
Board (NGCB) and the accompanying settlement of that complaint:
"The completion of the NGCB's investigation of the response of
certain employees to allegations against our founder and previous
CEO Steve Wynn is an important
remedial step. We have fully cooperated and been transparent
with the Board in this in-depth investigation. We look
forward to appearing before the Nevada Gaming Commission to review
the settlement and establish the final resolution of the
investigation.
"Upon learning of the extent of the allegations, the new
leadership of Wynn Resorts took immediate actions to ensure an open
and safe work environment for all employees and made dramatic
changes at every level of key decision-making in the Company.
As an example, any employee mentioned in the NGCB report who was
aware of allegations of sexual assault against the company's former
chairman and did not investigate or report it is no longer with the
company.
"We have undergone an extensive self-examination over the last
12 months, intended to reinvigorate and implement meaningful change
across all levels of the organization, cultivate a safe, healthy
and supportive workplace culture, and build on our core values of
respecting our employees, corporate responsibility and citizenship,
and service to the community."
Philip G. Satre, Chairman of the
Board of Wynn Resorts, issued the following statement:
"In my extensive experience working in the highly-regulated
gaming industry I have never seen a company take action that was as
swift and comprehensive as the executive team at Wynn
Resorts. Much of that occurred before I joined the Board in
August 2018, however I believe our
board's follow-up and reaction to the regulatory investigations has
been just as thorough and decisive."
Over the past year, the Company has taken many actions related
to its relationship with Steve Wynn,
its Board of Directors and Company executives, including the
following:
- Appointed Matt Maddox as CEO of
Wynn Resorts.
- Executed a separation agreement with Steve Wynn that paid him no severance and
arranged for liquidation of all his Wynn Resorts shares.
- 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 as Vice Chairman and Richard
Byrne as a Director. In November 2018, Mr. Satre succeeded D. Boone
Wayson as Chairman.
- Any employee who was aware of allegations of sexual assault
against Steve Wynn and did not
investigate or report it is no longer with the company.
- Appointed 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.
- 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 Matt
Maddox, the company has taken the following steps to further
transform its workplace environment:
- Refocused efforts on the company's workplace culture by making
it a priority for the company's new Human Resources
leadership.
- 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 Council to 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 Places to Work survey and focus groups which
measure employee engagement against the Fortune "100 Best
Places to Work."
- Launched a new annual Wynn Employee Foundation scholarship
program, which has awarded ten $7,500
college scholarships to employees and their dependents.
About Wynn Resorts:
Wynn Resorts, Limited is traded on the Nasdaq Global Select Market
under the ticker symbol WYNN and is part of the S&P 500 Index.
Wynn Resorts owns and operates Wynn and Encore Las Vegas
(wynnlasvegas.com), Wynn Macau (wynnmacau.com), Wynn Palace, Cotai
(wynnpalace.com), and is currently constructing Encore Boston
Harbor in Everett, Massachusetts
(encorebostonharbor.com), scheduled to open summer 2019. With a
collective 16 Forbes Travel Guide Five-Star Awards, Wynn Resorts is
the highest rated independent hotel company in the world.
Media Contact:
Michael
Weaver
Wynn Resorts
702-770-7501
michael.weaver@wynnresorts.com
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SOURCE Wynn Resorts