Wynn Resignation Shockwaves

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Wynn Resignation Shockwaves

Steve Wynn is the epicentre of numerous shockwaves in the gambling industry and its related markets. His resignation brings with it a number of changes, some good and some bad. For starters, Wynn Resorts could now look at venturing into the online gambling field. Next, the sexual allegations he faces coupled with #metoo movement could affect the widely successful Sin City slogan – What Happens Here, Stays Here.


Online Gambling Could be on the cards for Wynn Resorts

Despite the sexual accusations against Steve Wynn, he is a gambling visionary. Unfortunately, he never quite jumped on the evolution of gambling that is online casinos. Throughout the years he was indecisive on his stance regarding online gambling. Although he never took measures to prohibit online casinos.

Early last year it seemed as if the company would venture into the online gaming market. In fact, general counsel and senior vice president for Wynn Resorts Development, Jacqui Krum shared this possibility. Krum said: “We will continue to follow the development and implementation of online gaming to determine whether it adapts to the point at which we can participate.” However, the comment was dismissed by a Wynn spokesperson later.

Now that Matt Maddox is at the helm it seems highly possible that the company would venture into the online gambling market. In addition, the current CFO, Craig Billings, has a long history in the online gaming sector; he has worked for NYX Gaming, Aristocrat and IGT.


Removing the ‘Sin’ in Sin City

Even if you haven’t been to Las Vegas, as a Canadian gambler, online or land-based, you have heard ‘What Happens Here, Stays Here’. The popular slogan has come under scrutiny in lieu of sexual claims facing Steve Wynn.

The slogan debuted 15 years ago and since then has been the inspiration behind many ad campaigns and even a movie.

While this is not the first time that Sin City’s iconic slogan has come under fire, this time however its backed by the #metoo movement. Depending on which side of the fence you’re sitting on, it could be seen as just bad timing or perfect timing. To explain, Wynn’s charges come hot on the heels of prominent men in entertainment and politics facing similar sexual assault and misconduct claims.

Critiques claim that the slogan incites bad behaviour and gives the impression that you can get away with it in Vegas. Principal at R & R Partner’s, Billy Vassiliadis said: “not a message of naughtiness” but rather a “message of personal freedom and choice.” A message that draws crowds to the gambling hub and a change could result in a drop-in gamblers and revenue.

A final decision on whether to forego the catchphrase wasn’t reached at the time of writing. So, be sure to stay tuned to our blog page for updates.