Wynn Interactive CEO lands top job in management reshuffle
Craig Billings to be elevated to CEO of Wynn Resorts as Matt Maddox steps aside
Wynn Interactive CEO Craig Billings will assume the role of CEO for the entire Wynn Resorts group in 2022 after current CEO Matt Maddox confirmed he would step down.
Maddox has served as Wynn Resorts CEO since 2018 following the departure of prior CEO and founder Steve Wynn, who left the casino group after accusations of sexual misconduct.
However, after receiving a “unanimous” request from Wynn Resorts board, Maddox has agreed to remain on the board of directors of both Wynn Macau and Wynn Interactive until the end of 2022.
Wynn Resorts chairman Philip G. Satre paid tribute to the departing Maddox, asserting that he had done an “incredible job.”
“He very successfully led the company through what could have been one of the most disruptive business transitions in decades,” Satre explained.
“Our culture and operations have never been stronger.
“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 Wynn Reosrts chairman added.
As one of Wynn Resorts’ first employees, Maddox joined the company at its 2002 founding as treasurer and VP of investor relations in order to lead the financing to build Wynn Las Vegas.
He then took an expansion role on the Wynn executive team, relocating in 2003 to serve as CFO of Wynn Resorts Macau. In 2008, Maddox was appointed CFO of Wynn Resorts and then in 2013, he became president of Wynn Resorts, then transitioning to CEO.
Under his management, the company saw a successful opening of Encore Boston Harbor; it also invested more than $500m in Wynn Las Vegas, adding a new convention center, remodeled hotel rooms, a new golf course and various restaurants.
Maddox commented: “This has not been an easy decision. 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.
“I am grateful to the board for their faith in me and the support and insight they have offered me as CEO. 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,” Maddox added.
Joining Wynn in 2017, Craig Billings was appointed to the dual role of CFO of Wynn Resorts and CEO of Wynn Interactive in May 2021.
He has held executive and board positions at Goldman Sachs, where he covered the industry globally, Aristocrat Leisure Limited, NYX Gaming Group, and IGT.