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A Message from Matt Maddox, CEO of Wynn Resorts

In the first half of this year, we faced some very difficult decisions at Wynn Resorts. As I reflect on those decisions and the process by which they were made, a few things have become clear.

Although often portrayed as such, companies are not monolithic entities; they are not machines. They are simply a collection of people, whether large like ours or small. A collection of people all working toward some common goal. In our case, that goal is creating great guest experiences. But working toward a common goal is not enough.

When faced with challenges, especially those we face as I write this letter, it is not some faceless building that decides how a company must respond. It’s the people inside it. It’s Craig Billings, and Marilyn Spiegel, and Brian Gullbrants, Linda Chen and Ian Coughlan, and the 25,000 other people who work in our resorts. It’s also me.

A company’s response to tough challenges will always be easier, faster and better if its people all share a common set of values. In fact, I think we’ve learned this year that sharing a common set of values may be more important than the common goal. Companies shift and sometimes the common goal shifts with it. But the values can’t change; they must be enduring. At Wynn Resorts, our values are enduring. They have been with us since our founding and they guide us today.

When we first faced the COVID crisis in early March, it was our commitment to “care about everyone and everything” that guided us to make good decisions:

In short, we invested in our employees, worked for the health and safety of our guests, and took care of our communities. We made things better. Like we always do.

Recently, our country has faced up to another virus of sorts. And although it is just as insidious and dangerous as any disease, it is long-standing and of our own making. It is racism.

As I recently told all our team members: racism has no place in our society. The Wynn family is made up of every race, color, and creed — representing the very best of Las Vegas and Boston. Now is a time for us to stand united, come together, and work for change.

I believe that every individual must personally reflect on whether or not they are part of the problem, and what they must do to be part of the solution. As a collection of people, we will do the same at Wynn Resorts. We are going to take a hard look at ourselves to ensure we are not unconsciously part of the problem. And we will consider what proactive steps we will take to be part of the solution to end racism and inequality.

It is important work and we will be guided in it by our values. As a result, we will work to make things better.

Like we always do.

Sincerely,

 

Matt Maddox
Chief Executive Officer and Member of the Wynn Resorts Board of Directors
Wynn Resorts