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MGC begins Wynn hearings, Wynn Resorts spied on employees

Discussion in 'Vegas News' started by Funkhouser, Apr 5, 2019.

  1. Funkhouser

    Funkhouser Regional Gambling Specialist
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  2. NickPappageorgio

    NickPappageorgio ¿Quién vigila a los vigilantes?
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    Wynn may "Fire" it's way into Massachusetts

    My guess is the MGC feels that a license revocation would lead to a messy lawsuit which would cause more harm than would allowing a restructured Wynn to continue as previously planned.
     
  3. dvandentop

    dvandentop Chairman
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    It would be dumb for them not to approve it after the damn thing is almost complete we don't need a East Coast fountain blue

    They got rid of Steve and have gotten rid of other people wonder how long they will drag this on and if it will miss opening day?
     
  4. NickPappageorgio

    NickPappageorgio ¿Quién vigila a los vigilantes?
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    It sounds as if the decision is just a few days out.
     
  5. Chuck

    Chuck Platinum
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    Press Release: http://bit.ly/2IRFtNa

    Decision and Order: https://massgaming.com/wp-content/uploads/MGCDecisionandOrder4.30.19.pdf

    * MASSACHUSETTS GAMING COMMISSION ISSUES DECISION AND ORDER REGARDING SUITABILITY OF WYNN RESORTS AND WYNN MA, LLC - STATEMENT

    * MASSACHUSETTS GAMING COMMISSION SAYS TO IMPOSE $35 MILLION FINE ON WYNN RESORTS

    * MGC SAYS COMMISSIONERS CONCLUDE WYNN RESORTS, WYNN MA, LLC & ITS QUALIFIERS REMAIN & ARE SUITABLE TO MAINTAIN THE REGION A CATEGORY-1 GAMING LICENSE

    * MASSACHUSETTS GAMING COMMISSION SAYS WYNN RESORTS CEO MATTHEW MADDOX WILL BE ASSESSED A $500,000 FINE

    * MASSACHUSETTS GAMING COMMISSION SAYS WILL REQUIRE INDEPENDENT MONITOR TO REVIEW, EVALUATE CO'S ADHERENCE TO POLICIES, ORGANIZATIONAL CHANGES OUTLINED BY WYNN RESORTS IN ADJUDICATORY RECORD
     
  6. NickPappageorgio

    NickPappageorgio ¿Quién vigila a los vigilantes?
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    Shorter: Pay us some money, let us appoint an independent watchdog and continue with your investment in the commonwealth.

    Not terribly surprising, and Wynn will gladly pay.
     
  7. stackinchips

    stackinchips Silver
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    Yes, this was little more than an opportunistic money grab, is anyone surprised? Bueller? Bueller?
     
  8. Funkhouser

    Funkhouser Regional Gambling Specialist
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    Obviously the markets weren't too concerned. Looked like some people got in for a quick trade today to pick up a couple bucks, alot of share volume moved today.
     
  9. NickPappageorgio

    NickPappageorgio ¿Quién vigila a los vigilantes?
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    I'm thinking the markets understand that keeping the license is a far bigger positive than the find on the company and Maddox and the "independent watchdog".

    Huge cloud of uncertainty lifted, which is always a good thing for a company.
     
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