Phil Satre Next Chairman Of Wynn Resorts

Phil Satre Next Chairman Of Wynn Resorts

It seems that the settlement between Steve Wynn, casino magnate and American real estate businessman, and ex-wife, Elaine Wynn, is coming to an end. The iconic corporation based on the Las Vegas Strip in Nevada could soon welcome its next chairman, as Phil Satre becomes one of the main candidates for the president at Wynn Resorts.

The board of directors and its current chairman, D. Boone Wayson, are pleased with Elaine’s decision to “inject fresh blood into the company”, as Satre has years of experience and expertise in the industry. Former chairman and CEO of Harrah’s Entertainment and ex-CEO of Caesars Entertainment stepped down as IGT’s chairman to accept the appointment to a new office at Wynn Resorts this week.

Turning The Page

The outgoing chairman is convinced that the company will make an important step in achieving greatness, as it finally turns the page after months of internal turmoil. The board has put much effort in creating an entirely new management team, which is to be led by CEO, Matt Maddox. Thanks to Phil’s know-how and talent, Wynn Resorts will finally have an opportunity to grow and develop its potentials to a larger extent.

End of Hostilities

The company’s greatest shareholder, Elaine Wynn, has announced a shift in policy, saying that hostilities can be muted for the time being. She also confirmed a standstill period until 2020, or at least until Satre remains active as the chairman. Furthermore, the billionaire businesswoman will place a limit on her ownership and will avoid appointing new members.

A renowned gaming analyst, Carlo Santarelli, welcomes Wynn’s decision to diversify the company’s board, management team and ownership. Santarelli adds that the investment community revolving around the operator will certainly stay on high alert regarding any transactions, but he also remains convinced that Satre’s leadership will bring a tremendous success for the company on the long run.

Source:

“Phil Satre appointed chairman of Wynn Resorts”, Erik Gibbs, calvinayre.com, August 7, 2018.