Wynn Resorts ex-CEO Maddox disposes of some shares

Feb 22, 2022 Newsdesk Latest News, Top of the deck, World  

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Matt Maddox (pictured), who served his last day as chief executive of Wynn Resorts Ltd on January 31, has made several disposals of shares in the gaming company since that date.

Mr Maddox’s most recent reported move was described as a sale, and took place on February 17, which saw his stake in Wynn Resorts reduced to 0.23 percent, according to a disclosure filed to the Hong Kong Stock Exchange. United States-based Wynn Resorts is the parent firm of Macau casino operator Wynn Macau Ltd, the latter listed on the Hong Kong bourse.

The February 17 exercise grossed US$1.89 million, via 20,000 shares in the U.S. parent, at an average price of US$94.48 per share.

On January 31, two other tranches were disposed of, according to a filing to the U.S. Securities and Exchange Commission, made through the Wynn parent firm.

The first grossed approximately US$2.77 million, via disposal of 32,364 shares, at an average price of US$85.45 per share.

The second saw 75,462 shares disposed of. No information was given on the average price.

Mr Maddox is staying on the board of Wynn Macau as a non-executive director until the end of 2022. The aim – in his words at the time his exit as group CEO was announced – was to “assist with the concession renewal” regarding licensing in the Macau market, and to “help solidify our place as the premium operator in the region”.

Wynn Macau Ltd’s current Macau gaming rights are due to expire on June 26, along with those of the other five operators.

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