Wynn Resorts may sell Everett casino
In order to protect the company’s bottom line, Wynn Resorts CEO explained the company may sell the Wynn Boston Harbor in Everett.
US.- Wynn Resorts has been working on the Wynn Boston Harbor in Everett for two years, spending a total US$1.38 billion on the project. However, according to CEO Matt Maddox, the company may get rid of the property in order to protect its bottom line.
“We’re a US$30 billion company, and if there was ever any risk, due to heightened rhetoric, that there would be any contagion from Massachusetts into Wynn Resorts, we will have to take a hard look at what is best to protect our shareholders and our value,” Maddox said during an earnings call, adding: “We love the market. We’re going to continue to actively cooperate with the regulator there and move forward. But at the same time, we will always be protecting our shareholders and our employees.”
2018 kicked off with an investigation into alleged sexual misconduct by casino mogul and former Wynn Resorts CEO Steve Wynn, which motivated several changes in the company, including Mr Wynn’s resign and the appointment of three female board members. “It’s definitely been an eventful three months since we last reported quarterly earnings,” Maddox said.
