In February, Wynn Resorts announced it was selling Encore’s land and real estate and leasing it back, in what has become a common way to raise capital in the casino industry. ![]() Last November, Maddox announced he was stepping down, and a new CEO, Craig Billings, was named. In 2020, the casino weathered the coronavirus pandemic-related shutdown but has been bouncing back. Meanwhile, the $2.6 billion Encore casino project moved forward and opened its doors in June 2019. Matt Maddox, a Steve Wynn protégé who took over as CEO, was also fined $500,000 for what state regulators said was a failure to properly investigate at least one misconduct complaint and was ordered to get leadership training. ![]() After an investigation and hearings, the Massachusetts Gaming Commission allowed Wynn Resorts to keep its license but levied a $35 million fine against the company for the actions of former executives who were believed to have covered up for Wynn.
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