STATESIDE
Claiming “leering” was impossible, Wynn sued one of
America’s most controversial, publicity-driven attorneys for defamation. They settled out of court. Wynn continually questioned the NGCB’s jurisdiction over him since he resigned as CEO, relinquished his gaming license and sold his stock in 2018. The back-and-forth legal battle pitted Wynn against the NGCB, to whom he paid a record $20 million fine years ago. He triumphed in November 2020, when a judge ruled his
resignation and sale of all holdings negated any governmental oversight. However, an appeal to the Nevada Supreme Court reversed that ruling in March 2022. The Court determined the Nevada Gaming Commission (NGC) had to first address the NGCB’s request. Wynn Resorts’ corporate structure completely changed once he
resigned. Company executives have worked to rebuild the Wynn Resorts image. Massachusetts officials even forced the renaming of the Wynn in Boston to the Encore Boston Harbor brand. Wynn Resorts installed a new board and instituted other
procedures in place to address any future issues. Encore Boston Harbor sold for $1.7 billion in December 2022 to Reality Income, but Wynn Resorts still operates the property. I understand why Wynn finally decided enough was enough.
At 81 and very rich, he has decided to live out his life in peace. There will always be the naysayers and those who condemn him into eternity, but he can’t worry about them. I’ve learned a few truisms at my age. Unless an action is so
egregious and dangerous, people should be judged for the sum total of their lives… not just one repeatedly unproven charge. The American concept of “innocent until proven guilty” is an
ever-changing dynamic to some. Wynn has never been criminally charged, except in the media, in the courts. Ironically, Wynn brought a new casino vision wherever he
operated, whether in Las Vegas, Atlantic City, Biloxi or Macau. Think Bellagio, the Mirage, Monte Carlo, Paris Golden Nugget and Beau Rivage, plus a host of other unique, magnificent locations. He brought elegance and sophistication to what had often been a honkytonk industry, by introducing art and glamour to his properties.
10 AUGUST 2023
Millions have benefitted, including employees, small business suppliers and communities receiving enormous tax payments for improvements. However, when it comes to public institutions and charities, no strings may not mean no consequences. In 2013, Wynn pledged $25 million to the University of
Iowa’s (UI) Institute for Vision Research, to be distributed in annual $5 million increments. Five years later, with $5 million remaining to be distributed, UI caved to pressure about the allegations. When UI removed Wynn’s name from the Institute’s title,
Wynn took his checkbook elsewhere. The UI bigwigs determined that appeasing one vocal crowd superseded the help that $5 million could bring. A wealthy Iowa couple later filled the $5 million gap. Anyone with a family member who has suffered from
blindness or other debilitating visual issues, like in my own family, understands UI’s destructive actions. Staying under the radar, Wynn reappeared in 2021. He
pledged $50 million to the nonprofit Mohawk Valley Health System near his upstate Utica, New York hometown. The Wynn Hospital should open this year, across the street from his father Michael’s bingo parlor in the 1940s. Wynn returned to his roots to make a difference. Michael Wynn owned several East Coast bingo parlors. When
his death in 1963 revealed $350,000 in debts, Steve sacrificed his Yale Law School acceptance to manage the family’s Maryland bingo parlor. After later relocating to Nevada, the rest is history as he transformed gaming. Accepting Wynn’s donation in 2021, Mohawk Valley Health
President/CEO Darlene Stromstad, said, “The funds will elevate The Wynn Hospital to greater heights and result in important service enhancements and lifesaving outcomes… this gift will have a lasting legacy on the Mohawk Valley.” Her organization took the high road to benefit comprehensive healthcare. Wynn has left the desert for Florida’s sunshine. Forbes
magazine states his $3.2 billion net worth places him at No. 343 on their wealthiest 400 list. So, Mr. Wynn, enjoy your final chapter. You did “okay” for an upstate New York kid whose father ran bingo halls.
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