Latest News

Wynn Resorts board says NO to chairman candidate

Published

6 years ago

July 12, 2018

The board Wynn Resorts Ltd., which was mired in the controversy over sexual abuse allegations against its previous, has reportedly rejected the new chairman candidate. It is said that Elaine Wynn, the majority stakeholder, had proposed the new candidate. The filing to the US Securities and Exchange Commission, which revealed the development, did not identify the candidate proposed by Ms Wynn. A report by Bloomberg News identified the person as Phil Satre, the former chief executive of Harrah’s Entertainment, now called Caesars Entertainment Corp. He is currently chairman of casino equipment maker International Game Technology Plc.

The news agency said Mr Satre had confirmed to Bloomberg he withdrew his name from consideration for a Wynn Resorts board seat, but Mr Sartre did not provided further details about the matter.

Wynn Resorts is the parent company of Macau casino operator Wynn Macau Ltd. The parent firm has expressed interest in bidding for a potential casino licence in Japan.

In her latest filing, Ms Wynn stated that her proposed candidate was “extremely well-qualified”, having served “on the boards of at least six public companies, including as chairman of the board of three public companies, and has extensive credibility with gaming industry regulators”. The document added that the person was not a “close associate” of Ms Wynn.

The filing said: “the reason provided for [Wynn Resorts] board’s decision was that neither the nominating and corporate governance committee nor the full board wanted to bring in an outsider as a vice chairman, despite the candidate’s qualifications.”

Ms Wynn further added that, “in an effort to resolve differences between the company and herself, [she] had offered to sign a multi-year standstill in exchange for the candidate’s appointment as chairman.”

The filing stated that the candidate had “made a board leadership position (chair or vice chair) an express condition to his willingness to join the board, because he felt that a leadership role would be necessary for him to be in a position to help address the company’s regulatory issues.”

The document added: “While the board offered the candidate a board seat, the board did so knowing that it would not meet the candidate’s condition, and he declined.”

In the filing, Ms Wynn again called for all board members of Wynn Resorts to be elected annually. She also expressed concerns that the board “would do something inappropriate with respect to the terms of the departure of Kim Sinatra,” arguing that Wynn Resorts should seek advice whether to consider this a ‘for cause’ termination. Ms Sinatra will cease to serve as the company’s executive vice president, general counsel and secretary with effect from July 15.

Wynn Resorts has been under pressure from Ms Wynn, a co-founder of the firm, and from some investor advisory firms, to bring in new faces at senior level since the publicity given in January to allegations that former chairman and chief executive Steve Wynn had sexually harassed employees. The entrepreneur has denied the claims, and eventually left the firm in February.

The structure of the Wynn Resorts’ board has changed dramatically over the past three months, with 60 per cent of the directors that had been in place at the start of the year now having departed.

The casino company announced in April the appointment of three new directors for its board, all of them women.

Source: ggrasia.com

Source: Latest News on European Gaming Media Network

George Miller

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

European Gaming Congress 2024 (Warsaw, Poland)

Click to comment

You must be logged in to post a comment Login

You must be logged in to post a comment.

Latest News

ZITRO CONTINUES MAKING GAMING HISTORY IN TORREMOLINOS

Published

45 mins ago

September 19, 2024

George Miller

Reading Time: 2 minutes

At the recent Andalusian Gaming Expo and Congress, Zitro unveiled its latest products, leaving a lasting impression with games tailored for the Spanish market.

Zitro continues making history, as evidenced by the huge success of its Fu Frog game in Torremolinos. The game’s popularity has spread throughout Spain, with impressive revenue and player engagement. Fu Pots, showcased in Torremolinos on the Allure Glare cabinet, shares the same incredible features as Fu Frog, but this time, magical pots take center stage, multiplying prizes, doubling bonuses, and granting extra lives.

As a new addition, Mighty Hammer Ultimate was showcased on the Altius Glare cabinet, where the power of the hammer of Zitro’s renowned game will be felt even more intensely. Epic Kingdom, also on the Altius Glare cabinet, features an innovative bonus “3-level Link”, that adds three more levels of excitement to the bonus screen. Billy the Pig has also been a standout product at the show, with its super dynamic bonus that’s unlike anything seen before in Spanish gaming halls. It’s already proving to be very popular in the venues where it’s being installed.

As for video bingo, the company’s leading market segment, Zitro has offered a wide range of captivating titles, such as The Great Wealth or Fratelli Pizza, which include free games such as Stravaganzza Da Vinci and Stravaganza Double Bonus, greatly increasing access to bonuses.

In his first event as General Director of Zitro Spain, Albert Zorrilla stated, “It’s been an absolute pleasure sharing this marvelous time with the authorities and operators. I would like to thank the many visitors to our booth for their interest in our gaming offer, which will continue to grow in the coming months with innovations that will change the gaming landscape and continue to rewrite the history of gaming in Spain.”

The post ZITRO CONTINUES MAKING GAMING HISTORY IN TORREMOLINOS appeared first on European Gaming Industry News.

Latest News

Scientific Games Fast Play Games Lead Retail Performance in U.S.

Published

45 mins ago

September 19, 2024

George Miller

Reading Time: 2 minutes

Company’s Fast Play Games Are Industry’s Highest Performers, Kansas Lottery is Latest to Launch

Scientific Games reports that the global lottery company’s games lead retail performance in the top three Fast Play lottery markets in the U.S. based on per capita retail sales.

Vermont Leads the Nation: The Vermont Lottery holds the No. 1 spot for Fast Play retail weekly per capita sales in the U.S. The Lottery achieved significant growth in its Fast Play product category after moving to Scientific Games as its new lottery system provider in 2022. In the first 52 weeks after conversion, sales increased by 93% and grew an additional 33% in fiscal year 2024 versus fiscal year 2023.
Growing Popularity: Fast Play games are currently offered by 27 state lotteries. In fiscal year 2024, Fast Play games generated a total of more than$1.5 billion in sales. Scientific Games’ Fast Play lottery customers – Arizona, Iowa, Maine, Maryland, Oklahoma, Pennsylvania and Vermont – each achieved year-over-year sales increases. In the next 24 months, two more U.S. lotteries are expected to launch Scientific Games Fast Play games. One of the company’s current Fast Play lotteries plans to launch a $50 product.
Kansas Joins the Trend: The Kansas Lottery is the most recent to launch Scientific Games’ Fast Play products. The company’s high-performance Fast Play games debuted this summer, giving players in Kansas the opportunity to win instantly from a terminal-generated game. Scientific Games has provided the Kansas Lottery’s systems technology since 2018. The company’s advanced data analytics guided the strategy for the Kansas Lottery’s Fast Play portfolio planning and launch.

Stephen Durrell, Executive Director of the Kansas Lottery, said, “Our vision is to continue working with Scientific Games to modernize the Kansas Lottery with new technologies and new games like Fast Play so that we remain exciting and relevant to our players and retailers, and continually improve our contributions to the state of Kansas.”

Scientific Games’ combination of consumer research insights with advanced data analytics guided the strategy for the Kansas Lottery’s Fast Play portfolio planning and launch. A total of 10 Fast Play games at the $1, $2, $5, $10 and $20 price points have launched across the Kansas Lottery’s retailer network at both self-service and clerk-operated terminals. At launch, the most popular game was at the $1 price point. To date, a $20 game is generating the most sales.

Leslie Badger, VP of Lottery Content for Scientific Games, who brings 25 years of industry expertise to the product, said, “We worked with the Kansas Lottery’s team to implement a strategic, targeted approach to launch its new Fast Play games, employing a managed portfolio strategy similar to our proven method for scratch-off games. This requires advanced data analysis to do correctly, and we are very pleased with the results in Kansas.”

Scientific Games provides retail and digital games, technology, analytics and services to 150 lotteries in 50 countries around the globe, including most every lottery in North America.

The post Scientific Games Fast Play Games Lead Retail Performance in U.S. appeared first on European Gaming Industry News.

Latest News

Clarion provide a new home for industry leaders and policy makers with launch of the ICE World Gaming Forum.

Published

45 mins ago

September 19, 2024

George Miller

Reading Time: 2 minutes

ICE organisers have taken full-advantage of the additional space and enhanced facilities its new home, the Fira Gran Via Barcelona, offers to launch the World Gaming Forum (WGF), an immersive three-day learning, networking and knowledge sharing exchange which replaces ICE VOX.

Expanding on the creation of the WGF, Clarion Gaming’s Managing Director Stuart Hunter, who is leading the project to migrate ICE and iGB Affiliate, the industry’s two leading event brands from London to Barcelona explained: “The move to Barcelona was all about the opportunity our new home provided to elevate absolutely everything that we do and in the process build on our status at the intersection for all sectors of the global gaming business and drawn from all areas of the globe.

“The World Gaming Forum has been adopted to more accurately reflect the credentials of our industry-leading brands comprising the World Regulatory Briefing, the new Casino & Leaders Conference (formerly the ICC), and the new Esports & Games Conference (formerly the Esports Betting Conference)”

“In 2024 we succeeded in bringing together over 1,210 senior decision makers from 79 countries, including 621 operator C-Level, 87 global CEOs, 72 national and regional regulatory bodies, and 7 government ministers, and the enhanced ICE World Gaming Forum will deliver exclusive connections and content across our three conferences, in-depth workshops, high-level roundtable discussions, and tailored networking events, providing a home for the industry’s thought-leaders, innovators, challengers and policy makers.”

He added: “The outstanding facilities at the Fira Gran Via Barcelona, which is one of the largest and most modern venues in Europe, reflects the World Gaming Forum’s status as the premier platform for discussion, knowledge sharing and collaboration between the global gambling industry and the law makers who regulate them – a dynamic which is essential for the development of a progressive, responsible and sustainable industry.”

Situated in the heart of the venue space and featuring an exclusive club-style VIP lounge for delegates and speakers, dedicated networking garden, and a range of concierge services, the ICE World Gaming Forum will run Monday 20th – Wednesday 22nd January alongside the ICE and iGB Affiliate exhibitions.

The post Clarion provide a new home for industry leaders and policy makers with launch of the ICE World Gaming Forum. appeared first on European Gaming Industry News.