Wynn Boston Harbor Still Moving Forward as Steve Wynn Steps Down

Wynn Boston Harbor officials are moving forward without a pause this week despite the news that dynamic Wynn CEO Steve Wynn has stepped down from leading the company, and the fact that the Massachusetts Gaming Commission (MGC) investigation is digging deeper into the actions of other executives in the company.

Wynn Boston Harbor has referred all media requests on the project to Las Vegas, and Wynn Resorts spokesman Michael Weaver had no comment on whether Wynn’s departure would affect the Everett project.

Workers on the site and project leaders have said that the project in Everett is moving forward. A statement from the Wynn Board of Directors said, among other things, they are focused on opening Wynn Boston Harbor.

“The company will continue to fully focus on its operations at Wynn Macau, Wynn Palace and Wynn Las Vegas; the development and opening of the first phase of Wynn Paradise Park, currently under construction on the former Wynn golf course; as well as the construction of Wynn Boston Harbor, which will open in June 2019,” read the Board statement.

Wynn was accused of a pattern of sexual misconduct, including a $7.5 million out of court settlement, last month that quickly altered the gaming executive’s status.

Late last week, he announced that he would step down as the leader of the company – a company that bears his name and has built its brand on the strength of his name. It was a shocking move in a project that has had numerous shocks throughout its short life.

The Board of Directors of Wynn Resorts announced Wynn’s departure.

Current President Matt Maddox has been appointed as the new CEO, and Boone Wayson as Non-Executive Chairman of the Board of Directors.

In a statement, Wynn said he had suddenly found himself the focus of an “avalanche” of negative publicity. As it has grown, he said it has now begun to hurt the company he loves.

“As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles,” he said. “Therefore, effective immediately, I have decided to step down as CEO and Chairman of the Board of Wynn Resorts, a company I founded and that I love.

“The Wynn Resorts team and I have built houses of brick,” he continued. “Which is to say, the institution we created — a collection of the finest designers and architects ever assembled, as well as an operating philosophy now ingrained in the minds and hearts of our entire team — will remain standing for the long term. I am extremely proud of everything we have built at this company.”

Wynn said he endorsed the succession plan and fully supported Maddox as the new CEO.

“He and his team are well positioned to carry on the plans and vision for the company I created,” he said.

He added that he was most proud of the employees in the company. He said it was the employees of Wynn Resorts that made it the most admired company in the world.

The Board said they accepted the resignation with a heavy heart, and pointed out more than 40 percent of their employees are women.

“Steve Wynn is an industry giant,” said Wayson. “He is a philanthropist and a beloved leader and visionary. He played the pivotal role in transforming Las Vegas into the entertainment destination it is today. He also assembled a world-class team of executives that will continue to meet the high standards of excellence that Steve Wynn created and the Wynn brand has come to represent. Steve Wynn created modern Las Vegas. He transformed the city into an economic powerhouse by making it a world-wide tourist destination.”

The MGC did meet last week, and addressed their investigation once again, noting that they are looking into what Maddox and Wynn Attorney Kim Sinatra knew during the background check of the company in 2013.

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