Wynn Interactive chief executive Craig Billings has been promoted to chief executive of parent company Wynn Resorts, effective February 1, 2022.
Billings will take over as chief executive of Wynn Resorts from Matt Maddox, who has decided to step down in January after four years in the role.
Maddox will step down as CEO on January 31, but will continue to serve on the board of directors of Wynn Resorts and Wynn Interactive until the end of 2022 at the request of the company.
“Matt has done an incredible job as CEO since his appointment four years ago,” said Philip G. Satre, chairman of Wynn Resorts. “He very successfully led the company through what could have been one of the most disruptive business transitions in decades. He ensured a swift refreshment and remaking of the Board of Directors and senior management, resulting in increased diversity and Wynn being recognized as having one of the most diverse boards of directors in the country.”
“The entire board of directors is grateful for Matt’s dedication and leadership of the company and thanks him for all that he has done,” Satre added. “We are very fortunate to have a talented executive in Craig Billings who will assume the role of CEO and join the board in February 2022. The board and I have worked with Craig for five years, as CFO and president of the company. He has our confidence and trust as he begins his new role.”
Billings joined Wynn Resorts as chief financial officer in March 2017 and assumed the additional role of CEO of Wynn Interactive in January 2021, having previously served in the industry with suppliers NYX Gaming and Aristocrat Leisure.
“This has not been an easy decision,” Maddox said of his intention to step down. “I am leaving a company that I love and that’s full of people I admire. But I believe now is the right time for me and for the business.
“The last four years have been challenging but extremely rewarding, and I am incredibly proud that we accomplished so much. We quickly resolved litigation that had distracted the company for seven years. We reorganized the company’s leadership team and focused on our 28,000 employees, rebuilding and strengthening our powerful culture to focus on a common purpose: create and deliver the best guest experiences.”
“I am grateful to the board for their faith in me and the support and insight they have offered me as CEO,” Maddox added. “I am very pleased with the board’s decision and know I am leaving Wynn Resorts in great hands with Craig, as well as the entire management team.”
Shares in Wynn Resorts Ltd. (NSQ:WYNN) closed 0.77 per cent lower at $94.12 per share in New York Tuesday.