LAS VEGAS, April 29, 2019 /PRNewswire/ -- Wynn Resorts
(NASDAQ: WYNN) today announced that leading independent proxy
advisory firms, Institutional Shareholder Services Inc. ("ISS") and
Glass Lewis & Co. ("Glass Lewis"), have recommended that the
Company's shareholders vote FOR all of the Wynn Resorts Board's
proposals at the Company's 2019 Annual Meeting of Shareholders to
be held on May 7, 2019.
Citing the Board's extensive, year-long outreach to understand
and address shareholder concerns, each of the two leading proxy
advisory firms endorsed Wynn Resorts' improvements and recommend
shareholders vote "FOR" the Company's executive compensation
proposal. Both ISS and Glass Lewis recommend that
shareholders vote "FOR" all three directors who are up for
re-election: Jay L. Johnson,
Margaret J. Myers and Winifred M. Webb.
Philip G. Satre, Chairman of the
Wynn Resorts Board of Directors, said, "Over the past year, the
Board has engaged extensively with our shareholders and taken
decisive action to improve our culture and governance. As we
lead Wynn Resorts into the future, we will continue to seek input
from all of our stakeholders and action on matters that are in the
best interest of our guests, our employees and our shareholders.
We appreciate the validation ISS and Glass Lewis have
provided to us, through their rigorous reviews of the progress
we've made."
In supporting Wynn Resorts' director nominees, Glass Lewis
stated*:
"Given the very high level of refreshment of the Company's
management and board, as well as the remedial actions taken by the
Company following Mr. Wynn's ouster, we do not believe it is
necessary for shareholders to oppose the election of any of the
board's current directors based on the failings of former Company
officials detailed by the [Massachusetts Gaming Commission] and
[Nevada Gaming Control Board] reports."
In supporting Wynn Resorts' executive compensation, ISS
stated*:
"The company has made a number of changes to its executive pay
practices in 2018 and 2019 that are expected to strengthen the
alignment of pay and performance."
* Permission to use quotations neither sought nor
obtained
About Wynn
Resorts
Wynn Resorts, Limited (Nasdaq: WYNN) 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 Las
Vegas (wynnlasvegas.com), Wynn Macau (wynnmacau.com) and Wynn
Palace, Cotai (wynnpalace.com).
Wynn and Encore Las Vegas feature two luxury hotel towers with a
total of 4,750 spacious 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 Plaza, a Strip-front expansion that offers
a collection of world-renowned luxury, contemporary, and lifestyle
brands.
Wynn Macau is a luxury hotel and casino resort located in the
Macau Special Administrative Region of the People's Republic of China with two luxury
hotel towers with a total of 1,008 spacious rooms and suites,
approximately 273,000 square feet of casino space, casual and fine
dining in eight restaurants, approximately 31,000 square feet of
meeting and convention space, approximately 59,000 square feet of
retail space, and recreation and leisure facilities including two
opulent spas, a salon and a rotunda show.
Wynn Palace is a luxury integrated resort in Macau. Designed as a floral-themed
destination, it boasts 1,706 exquisite rooms, suites and villas,
approximately 424,000 square feet of casino space, 11 food and
beverage outlets, approximately 37,000 square feet of meeting and
convention space, approximately 106,000 square feet of designer
retail, SkyCabs that traverse an eight-acre Performance Lake, an
extensive collection of rare art, a lush spa, salon and recreation
and leisure facilities.
Wynn Resorts is currently constructing Encore Boston Harbor
located in Everett,
Massachusetts.
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SOURCE Wynn Resorts