Wynn Resorts CEO Matt Maddox to step down in January
Maddox took the helm at Wynn in February 2018
Wynn Resorts Ltd (WYNN.O) Chief Executive Officer Matt Maddox will step down at the end of January and hand over the reins to executive Craig Billings, the casino operator said on Tuesday.
Las Vegas, Nevada - January 19, 2011: Working round-the-clock modern Vegas hotels and casinos Wynn and Encore in Las Vegas, Nevada. (iStock / iStock)
Billings, who joined Wynn Resorts as its finance chief in 2017, most recently served as the head of Wynn Interactive, the company's 72%-owned unit housing its U.S. online sports betting and gaming business.
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Billings will also become a board member.
BOSTON - SEPTEMBER 19: Casino magnate Steve Wynn held meetings in Boston on Friday, September 19, 2014. (Photo by Dina Rudick/The Boston Globe via Getty Images)
Maddox took the helm at Wynn in February 2018 after founder Steve Wynn resigned in the wake of sexual misconduct allegations.
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"This has not been an easy decision. I am leaving a company that I love and that's full of people I admire," Maddox said.
Las Vegas, NV, USA - June 29th, 2009 - View down Las Vegas Strip with Encore and Wynn casino. Holding numerous hotel awards, the Encore-Wynn complex is the world's seventh-largest hotel with 4,750 rooms.
"But I believe now is the right time for me and for the business."