Wynn Boston Harbor Changes Name

EVERETT, MA – Wynn Resorts announced a name change to its resort and casino in Everett at a hearing with the state gaming commission Friday. CEO Matt Maddox said the company will rebrand the $2.5 billion project as Encore Boston Harbor.

"More than 25,000 people make up our company, not one person," Maddox said. "There are very few companies who do what we do and the reason we do it better than all else is because of our people. They are the reason we are at the top and we are very focused on doing the right thing. That's what this company is all about."

Wynn has attempted to distance itself from ousted chairman and CEO Steve Wynn, who stepped down from the company he founded amid sexual misconduct allegations, in an effort to hold onto its casino license in Massachusetts.

In a statement, a Wynn Resorts spokesperson said the board has launched an internal investigation, led by an outside firm, into the company's awareness and response to the accusations against Wynn. The company has also hired three women to serve as independent board members and formed a new department to focus on gender equality, diversity, fair treatment and female leadership.

The company will also review its sexual harassment training and gender equality in pay, as well as offer new benefits such as paid parental leave and a "perfect start" bonus for new parents.

Gaming officials held a public hearing Friday to consider Wynn Resorts' request to remove Steve Wynn as an "individual qualifier" on its casino license. The commission has been reviewing whether Steve Wynn and Wynn Resorts are "suitable" to hold a license in the state following a Wall Street Journal report earlier this year detailing multiple accusations of sexual misconduct.

Wynn has denied the allegations and claimed they are an attempt by his ex-wife to smear him.

Meanwhile a potential sale of the Boston Harbor property to rival MGM Resorts International has been rumored. Such a deal would be challenging due to Massachusetts gaming regulations, and Wynn CEO Matt Maddox vehemently denied sale talks in a CNBC interview this week.

"Boston is not up for sale," Maddox said. "I like that market. I found the land. I pursued that deal. I entered the agreement with the host community five years ago. I liked that market then. I like that market today."

The Everett resort and casino is on track to open June 2019.

Photo Credit: Wynn Boston Harbor