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Massachusetts Regulator Scolds Wynn Resorts for Undisclosed Arrangement

Wynn Resorts continues its ongoing presence in the news with new happening around the brand occurring almost every day. It was recently reported that the gaming authorities of Massachusetts have expressed their discontent after an attorney protecting the rights of Wynn Resort made it clear that the casino operator failed to make public a letter bearing the same date as the date when former CEO Steve Wynn announced his resignation from his leading post.

Small details surrounding big events are not to be overlooked since they can have a meaningful impact in the long run. This basic principle bears even more power in the light of the recent events surrounding Wynn Resorts and its former Chief Executive Officer Mr. Wynn. The said letter which became public only recently and several weeks later than it should have been arranges matters revolving around Mr. Wynn’s separation from the structure of the company and the way this move is going to affect the casino developer in its future endeavors.

Upon learning that there is a letter which has not been disclosed previously the Massachusetts Gaming Commission which is currently investigating the company and looking deeply into its business over the past years, was fast to begin examining the new information as well. Commissioner Gayle Cameron, as well as other officials from the regulator, rapped Jacqui Krum who is the attorney who provided the said letter. In it, the company makes a thorough attempt to clear the situation regarding situations to the likings of Mr. Wynn benefits as a former CEO and when they are expected to be ended.

Agreement Letter Receives the Spotlight

Another detail refers to his mobile phone and when would be the right time for him to switch to a personal cell phone account. There is also the issue with him using his position to hire employees of Wynn Design and Development for various projects he oversees.

The company is responsible for creating the designs that are known as the Wynn “look”, utilizing the unique signature look of the brand. It has been confirmed that he has hired 18 employees for several projects related to his personal home as well as his ultimate relocation from his residence located at the Wynn Las Vegas a couple of months ago.

What has concerned the authorities of the state of Massachusetts is the fact that the letter written back then was not publicly disclosed during the presenting of documents during the procedure of removing the former CEO from the list of key qualifiers. It could be recalled that back in April the attorneys of Steve Wynn filed a request to remove the casino tycoon as a qualifier for the Encore Boston Harbor future location.

A qualifier in the gambling industry is usually the key person for a given project. Massachusetts Gaming Commission was the regulator which received the request and which has to oversee the procedure of removing Mr. Wynn from the list of qualifiers with which he was associated up to this point. Mr. Krum stated that he learned about the letter only recently and immediately reported the authorities about its existence.

 Author: Harrison Young

Harrison Young is an experienced writer, who started his career almost 8 years ago. Prior to joining our team at CasinoGamesPro, he worked as an editor for a small magazine.