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Nevada regulators confirm Wynn CEO Maddox in good standing

Wynn Resorts Ltd. has received clarity from the state Gaming Control Board that its CEO, Matt Maddox, remains in good standing in Nevada.

An April 9 letter from Control Board Chairwoman Sandra Morgan to the company said, “Please be advised that Mr. Maddox was found suitable as an officer of Wynn Resorts Ltd. in Nevada in January 2010 and remains in good standing with the Nevada Gaming Control Board.”

The company sought the clarification after the Massachusetts Gaming Commission, which questioned Maddox in a three-day adjudicatory hearing in Boston last week, indicated that they believed an investigation was still underway in Nevada.

Morgan has not confirmed whether any investigations are ongoing, but Nevada Gaming Commission Chairman Tony Alamo in February indicated former Chairman and CEO Steve Wynn and officers and executives that have left the company can remain under regulatory scrutiny.

Regulators in Nevada and Massachusetts launched investigations in January 2018 after the Wall Street Journal published a story outlining accusations of sexual misconduct against Steve Wynn. He has denied all allegations against him.

The Massachusetts commission is in closed-door deliberations on whether the company should be allowed to retain the gaming license it received there in 2014. An investigative report determined that Wynn officers and executives failed to disclose a private $7.5 million settlement Steve Wynn made with a woman who said he forced her to have sex and became pregnant.

Deliberations began a week ago and a written response from the commission could be completed as early as next week. Commissioners indicated it would take several days to reach a conclusion and publish its findings.

Wynn Resorts is scheduled to open the $2.6 billion Encore Boston Harbor resort June 23.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

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