With rumors circulating of a potential sale to a rival and following the departure of its CEO amid allegations of sexual misconduct, Wynn Resorts reports it is creating a new community initiative aimed at promoting diversity and gender equality.
According to a statement from the company, the new Culture and Community Department will aim to support diversity and inclusion, gender equality, fair treatment in the workplace and employee charitable efforts in the communities in which Wynn Resorts operates. The new department will also create a new Women’s Leadership Forum, which is designed to help close the gender gap in management, provide career growth opportunities for female employees at all levels, create pay and title equity and ensure a safe workplace. The company has also commissioned several focus groups, studies and surveys to help it better understand how to accomplish these goals, as well as to help shape new programs, including mentorships, panel discussions and town hall meetings geared towards female employees.
"Wynn Resorts gives every employee the same opportunity for professional growth and unlimited success," said Matt Maddox, CEO of Wynn Resorts, in a written statement. "Now more than ever we are committed to ensuring equality, creating leaders, and giving back to the communities in which we operate. The launch of our Culture and Community Department speaks to this promise, and will help us continue to be the industry employer of choice."
Wynn Resorts has promoted Corrine Clement as vice president of the new department. Clement joined the company in 2014, serving first as executive director of human resources for Wynn Palace, and most recently as executive director of innovation and creative development at Wynn Las Vegas. She has also served communications, diversity, branding, marketing, partnership development, and human resources capacities at MGM Resorts, and was an executive leadership coach and consultant for clients including Coca-Cola NA, the World Series of Poker, and the Phoenix Suns.
The announcement comes not long after rumors began to circulate of a potential sale of the company to competitor MGM Resorts after longtime CEO Steve Wynn stepped down amid allegations of sexual misconduct published by The Wall Street Journal. The Journal report contained allegations of sexual misconduct over the past few decades by dozens of people who have worked at Wynn’s casinos, some of whom alleged he pressured employees to perform sex acts. In a written statement Wynn told the Journal that the accusations are the work of his ex-wife, with whom he is involved in a lawsuit, and that the “idea that I ever assaulted any woman is preposterous.” After Steve Wynn stepped down, Wynn Resorts appointed Matt Maddox, who was then the company’s president, to the CEO role, and Boone Wayson to the role of non-executive chairman of the board.
As reported by the New York Post, since then Steve Wynn has sold all of his remaining shares in the company, and there have recently been “back-channel approaches” involving a potential sale of Wynn Resorts to MGM, according to several unnamed sources familiar with the situation. One source put the possibility of a deal within the next several months at 50 percent, while another raised the possibility that the talks could spur another competitor, like Caesars Entertainment, to jump into the mix.
Potentially purchasing Wynn Resorts would add two more major Las Vegas resorts to MGM’s portfolio, in the form of the 2,710-room Wynn Las Vegas and its sister property, the 2,034-room Encore at Wynn Las Vegas. Wynn Resorts also has properties in Macau and Cotai, as well as a resort under construction in Boston Harbor.
A representative of MGM Resorts tells Travel Agent that it is the company's policy not to comment on rumors. We have also reached out to representatives of Wynn Resorts regarding the sale talk and will post an update if we receive any further information.
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