Matthew Maddox

Last updated
Matthew Maddox
Matt Maddox.jpg
CitizenshipUnited States
Alma mater Southern Methodist University
Occupation CEO of Wynn Resorts (2018-2022)
Website wynnresorts.com

Matthew 'Matt' Maddox is an American business executive and entrepreneur. He is the former [1] CEO of Wynn Resorts, Ltd., the American publicly traded developer and operator of higher-end hotels and casinos. [2] In November 2021, he announced his intention to step down as CEO of Wynn Resorts effective January 31, 2022. [3]

Contents

He previously served as the company's president and chief financial officer from 2013 until he took office as CEO on February 6, 2018, following the resignation of Steve Wynn. [4] In August 2018, Maddox joined the Wynn Resorts board of directors. [5]

Early life and education

Maddox received a Bachelor's in finance from Southern Methodist University. [6] He attended Mena High School, Arkansas. [7]

Career

Maddox began his career as an investment banker at Bank of America. His first stint in the gaming industry was at Park Place Entertainment (later Caesars) as director of finance. [4]

Maddox joined Wynn Resorts at its founding in 2002. [8] He served as vice president of investor relations and treasurer while helping secure the financing required to launch Wynn. In 2003, he relocated to Macau to build Wynn Resorts Macau as its chief financial officer. In 2013 he was additionally appointed president and chief financial officer of Wynn Resorts, following which he was involved in building the Wynn Palace in Cotai, Macau. In 2018 he was appointed CEO of Wynn Resorts following the resignation of founder Steve Wynn. [9] [10]

In November 2021, Mr. Maddox announced his intention to step down as CEO of Wynn Resorts, effective January 31, 2022. The Company's Board of Directors asked Mr. Maddox to remain on the Wynn Macau, Limited and the Wynn Interactive Boards of Directors, as well as a consultant to Wynn Resorts. [1] [3]

Related Research Articles

<span class="mw-page-title-main">Steve Wynn</span> American real estate magnate and art collector

Stephen Alan Wynn is an American real estate developer and art collector. He was known for his involvement in the luxury casino and hotel industry, prior to being forced to step down. Early in his career he oversaw the construction and operation of several notable Las Vegas and Atlantic City hotels, including the Golden Nugget, the Golden Nugget Atlantic City, The Mirage, Treasure Island, the Bellagio, and Beau Rivage in Mississippi, and he played a pivotal role in the resurgence and expansion of the Las Vegas Strip in the 1990s. In 2000, Wynn sold his company, Mirage Resorts, to MGM Grand Inc., resulting in the formation of MGM Mirage. Wynn later took his company Wynn Resorts public in an initial public offering and was Wynn Resorts' CEO and Chairman of the Board until February 6, 2018, when he announced his resignation. He is a prominent donor to the Republican Party, and was the finance chair of the Republican National Committee from January 2017 to January 2018, when he resigned amid sexual misconduct allegations.

<span class="mw-page-title-main">Wynn Las Vegas</span> Hotel and casino in Paradise, Nevada

Wynn Las Vegas, often simply referred to as Wynn, is a luxury resort and casino located on the Las Vegas Strip in Paradise, Nevada, United States. It is owned and operated by Wynn Resorts, and was built on the former site of the Desert Inn resort, which opened in 1950. Casino developer Steve Wynn purchased and closed the Desert Inn during 2000, with plans to build a new resort on the site. The design phase lasted two and a half years, and construction began on October 31, 2002, with Marnell Corrao Associates as general contractor. At a cost of $2.7 billion, Wynn Las Vegas was the most expensive resort ever built, beating Wynn's $1.6 billion Bellagio, which opened on the Strip in 1998.

<span class="mw-page-title-main">Las Vegas Sands</span> American casino and resort company

Las Vegas Sands Corporation is an American casino and resort company with corporate headquarters in Paradise, Nevada, United States. It was founded by Sheldon Adelson and his partners out of the Sands Hotel and Casino on the Las Vegas Strip. The Sands was demolished and redeveloped as The Venetian, opening in 1999. An adjacent resort, The Palazzo, opened in 2007. Both resorts were sold in 2022.

Matt Ouimet is executive chairman of Cedar Fair Entertainment Company, a publicly traded company that owns 12 amusement parks in the United States and Canada.

<span class="mw-page-title-main">Wynn Resorts</span> American casino company

Wynn Resorts, Limited is an American publicly traded corporation based in Paradise, Nevada, that is a developer and operator of high-end hotels and casinos. It was founded in 2002 by former Mirage Resorts Chairman and CEO Steve Wynn, and is now run by CEO Craig Billings. As of 2020, the company has developed six properties.

<span class="mw-page-title-main">Cotai Strip</span> Informal name of an area of Macau, China

The Cotai Strip is the central area of Cotai, mostly known for its cluster of resort hotels and casinos. The term was first coined by Las Vegas Sands Corporation regarding its building of a strip of hotel-casinos in the Cotai section of Macau.

James Joseph Murren is an American businessman. He was the chairman and CEO of MGM Resorts International. He is a member of the National Infrastructure Advisory Council.

<span class="mw-page-title-main">Melco Resorts & Entertainment</span> Integrated resorts company based in Hong Kong

Melco Resorts & Entertainment Limited is a developer, owner and operator of integrated resorts with entertainment and casino gaming facilities in Asia and Europe. Based in Hong Kong, the company is listed on the NASDAQ. Originally known as Melco Crown Entertainment, Melco Resorts was founded in 2004 as a joint venture between Melco International and Crown Limited. Melco Crown became Melco Resorts & Entertainment in May 2017 and currently operates as a subsidiary of Melco International. Melco Resorts owns a number of integrated casino resorts, having launched Altira Macau in 2007, City of Dreams Macau in 2009, City of Dreams Manila in 2015, and Studio City Macau in 2015. It also operates the Mocha Clubs slot machine brand and is in the process of constructing the City of Dreams Mediterranean resort in Cyprus, which will be the largest casino-resort in Europe.

<span class="mw-page-title-main">Mark A. Brown</span> American gaming industry executive

Mark A. Brown is an American gaming industry executive known for serving as CEO of Trump Hotels and Casinos Inc. and president of The Venetian Macau, Sands Macau, and The Four Seasons Macau. In November 2010, Brown joined Wynn Resorts, Ltd in advance of the organization's multibillion-dollar Cotai Strip Macau project. In November 2014 Brown was named president and CEO of Imperial Pacific Ltd's $7.1 Billion casino resort project in Saipan.

The Culinary Workers Union, UNITE HERE Local 226 is a local union affiliated with UNITE HERE which operates in the Las Vegas metropolitan area of Nevada. Members include a variety of occupations organized along craft lines working in restaurants, hotels and laundries, in the casinos in the Las Vegas metropolitan area and Reno, as well as Harry Reid International Airport and Valley Hospital Medical Center. While most Culinary members work in casinos, the union does not represent dealers and other employees directly providing gaming services. The union also has a partnership with the Culinary Academy of Las Vegas, which Hattie Canty, the first African-American woman elected to be president of the Culinary Union, was instrumental in organizing. Local 165 of UNITE HERE represents bartenders in Las Vegas although the two locals negotiate contracts in tandem.

Melco International Development Limited, formerly The Macao Electric Lighting Company Limited, is a multinational investment holding company based in Central, Hong Kong. Melco International invests in casino and hospitality business and other businesses in Hong Kong, Macau, the Philippines, and Cyprus. One of the 100 oldest companies in Hong Kong, it was founded in 1910 and listed on the Hong Kong Stock Exchange in 1927. Originally an electricity supplier to Macau, around 2001 Melco International diversified into casino development and operations, building casino resorts such as Studio City Macau, City of Dreams Macau, City of Dreams Manila, and Altira Macau. Currently the major subsidiary that Melco International operates is Melco Resorts & Entertainment Limited.

<span class="mw-page-title-main">Wynn Palace</span> Luxury hotel and casino in Macau

Wynn Palace is the second luxury integrated resort from international resort developer Wynn Resorts in the Macau Special Administrative Region of the People's Republic of China, following the launch of Wynn Macau. Located in Cotai, it features a 28-story hotel with 1,706 rooms, suites and villas, meeting facilities, over 106,000 square feet (9,800 m2) of luxury retail, 13 casual and fine dining restaurants, Macau's largest spa, a salon, a pool and approximately 424,000 square feet (39,400 m2) of casino space. The resort also features a variety of entertainment experiences, including the 8-acre Performance Lake with a choreographed display of water, music and light, the unique SkyCab, spectacular, large-scale floral displays by renowned designer Preston Bailey and an extensive collection of art works by some of the world's leading artists.

<span class="mw-page-title-main">Lawrence Ho</span> Hong Kong-born Canadian businessman

Lawrence Ho Yau-lung is a Canadian businessman. Starting his career as an investment banker at Jardine Fleming and Citibank, in 2001 he took over operations at Melco International. Later named chairman and CEO, Ho refocused the company on leisure and entertainment, building and operating casino resorts in Macau, the Philippines, and Cyprus. With an estimated net worth of $2.2 billion, he was named "Asia’s Best CEO" at the Asian Excellence Awards for the seventh time in 2018.

William J. (Bill) Hornbuckle IV is CEO and President of MGM Resorts International, headquartered in Paradise, Nevada.

Elaine Farrell Wynn is an American billionaire businesswoman, philanthropist and art collector. She co-founded Mirage Resorts and Wynn Resorts with her former husband, Steve Wynn. She has supported education causes, the performing arts and the visual arts.

Andrew Scott Pascal is an American businessman. He is the founder, CEO, and chairman of Play Studios, a consumer gambling company focused on the free-to-play social and mobile gambling market. He is also the managing partner of Pascal Ventures, a venture firm incubating and investing in digital gambling and leisure. He was previously president and chief operating officer of Wynn Las Vegas, the president and CEO of WagerWorks, and its predecessor Silicon Gaming.

Kazuo Okada is a Japanese billionaire businessman, and art collector.

Marilyn Spiegel is the President of Wynn Las Vegas and Encore, a casino-hotel resort complex on the Las Vegas Strip in Paradise, Nevada, overseeing day-to-day operations and all revenue centers at the resort. Spiegel previously held this position from 2010 – 2013.

Gamal Aziz, also known as Gamal Abdelaziz, is an Egyptian-American businessman. Aziz is the former president of Wynn Macau Limited and chief operating officer of Wynn Resorts Development. He was also the former CEO of MGM Resorts International.

References

  1. 1 2 "Matt Maddox to step down as Wynn CEO on Jan. 31". The Nevada Independent. 2021-11-10. Retrieved 2022-02-01.
  2. "New King of Vegas". Bloomberg.com. 7 February 2018.
  3. 1 2 "Wynn Resorts CEO Matt Maddox to step down in January". Reuters. 2021-11-09. Retrieved 2022-02-01.
  4. 1 2 "Who is Steve Wynn's successor, Matt Maddox?: Travel Weekly". www.travelweekly.com.
  5. "Wynn Las Vegas | Pressroom : Wynn Resorts Appoints Matt Maddox and Richard J. Byrne to Board of Directors".
  6. "'Trusted confidant' Matthew Maddox takes helm of Wynn Resorts". 7 February 2018.
  7. Brantley, Max (7 February 2018). "Mena native Matthew Maddox named to lead Wynn Resorts".
  8. "Call from Steve Wynn led Maddox to career in casino work". 21 February 2018.
  9. "The New King of Vegas Isn't Nearly as Flashy as His Old Boss". Bloomberg.com. 7 February 2018 via www.bloomberg.com.
  10. Net, Hospitality. "Matt Maddox named CEO at Wynn Resorts, Limited". Hospitality Net.