• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Wynn Resorts pledges to diversify board by end-2015

Apr 09, 2015 Newsdesk Latest News, Macau, Top of the deck, World  


Wynn Resorts pledges to diversify board by end-2015

Wynn Resorts Ltd – parent company of Macau casino operator Wynn Macau Ltd – has promised to recommend at least one “diverse” candidate for membership of the board before year-end.

“The corporate governance committee will name one or more diverse directors to the board by the end of 2015,” the parent firm said in a filing to Nasdaq on Wednesday.

Wynn Resorts would “prioritise women and diverse candidates in its search,” the filing added.

On March 17, current Wynn Resorts director Elaine Wynn – whom the company is not renominating for re-election for the board in a vote at an annual meeting of shareholders on April 24 – said her de facto exclusion would be “bad business”.

“We are a global consumer-oriented company that strives to appeal to both men and women and, as a result, I think it is vital that the views of 50 percent of the population be represented on the board. In my opinion, the exclusion of any diverse voices from the board is not just a symbolic misstep, it’s bad business,” Ms Wynn, ex-wife of company founder and chairman Steve Wynn, added in her proxy filing.

For the April 24 proxy vote, Wynn Resorts has nominated two existing directors – John Hagenbuch and J. Edward Virtue – to continue on the board for three-year terms. Ms Wynn is waging a campaign urging voting shareholders to keep her on the board.

On Sunday, Institutional Shareholder Services Inc (ISS) – which advises professional investors how to manage corporate governance risk related to their holdings – recommended that Wynn Resorts’ shareholders withhold support for all candidates currently seeking a seat on the company’s board, as a form of protest.

Ms Wynn “also bears responsibility for the manifest failures of governance incidental to her arguments but nonetheless highlighted by this proxy contest,” ISS said.

Wynn Resorts said in its Wednesday filing that it was “taking steps to enhance the board’s independence, broaden its skills and experience and increase its effectiveness”. It reiterated a request for investors to back its nominees, Mr Hagenbuch and Mr Virtue, as directors.


  • tweet
Related articles
  • Wynn Macau Ltd name fees to parent capped at US$74.5mln
    Wynn Macau Ltd name fees to parent...

    Jun 30, 2022  

  • Wynn Macau Ltd asks managers to take 10pct wage in stock
    Wynn Macau Ltd asks managers to take...

    May 24, 2022  

More news
  • Macau ops track earlier recovery after Jan GGR: analyst
    Macau ops track earlier recovery after...

    Feb 01, 2023  

  • Prominent locals speak in court for Tak Chun boss Levo Chan
    Prominent locals speak in court for Tak...

    Feb 01, 2023  


Latest News

Macau ops track earlier recovery after Jan GGR: analyst

Macau ops track earlier recovery after Jan GGR: analyst

Feb 01, 2023  

Most of Macau’s casino operators are likely to generate positive free cash flow in the first quarter, given the robust recovery level of mass-market gross gaming revenue (GGR) in January, relative...
Read More
Prominent locals speak in court for Tak Chun boss Levo Chan

Prominent locals speak in court for Tak Chun boss Levo Chan

Feb 01, 2023  

January travel lift, CNY sees Macau GGR up 233pct m-o-m

January travel lift, CNY sees Macau GGR up 233pct m-o-m

Feb 01, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Momentum is expected to grow as mainland China recently reopened its borders, and this presents a substantial growth potential for us as historically a large portion of our clientele came from China”

Porntat Amatavivadhana

Non-executive chairman of Donaco International



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPMMacau CNY mass GGR maybe 60pct plus of CNY 2019: JPM January 31, 2023
  • January travel lift, CNY sees Macau GGR up 233pct m-o-mJanuary travel lift, CNY sees Macau GGR up 233pct m-o-m February 1, 2023
  • Chinese comeback limited impact on Singapore IRs: bankChinese comeback limited impact on Singapore IRs: bank January 31, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us