Wynn has helped to recruit Phil Satre as she believes the casino operator ‘needed to have a better face’
As the largest single shareholder of American casino Wynn Resorts Limited and the ex-wife of founder Stephen Wynn, Elaine Wynn told the Nevada Gaming Control Board (NGCB) that she no longer intends to occupy a seat on the company's board of directors.
Elaine Wynn, 78, holds an 8.84% stake in Wynn Resort. From 2002 to 2015, she served on the Wynn Resort’s board of directors for 13 years and was later removed by shareholders. Since then, she has been seeking to restore her position, including the high-profile launch of a proxy election committee in 2018. The members of the committee are all supporters of her ex-husband.
Elaine Wynn told NCGB last week that since former boss of Harrah's hotels and casinos Phil Satre became chairman of Wynn Resorts in November 2018, she has no longer sought to return to the board of directors. Satre joined Wynn Resorts' Board of Directors at the urging of Elaine Wynn three months ago.
According to "Las Vegas Review-Journal", Elaine Wynn told NGCB: "The company needs a better representative and better leadership. We are fortunate to have Mr. Satre, who has long been a favorite in our industry, a respected and experienced leader."
Elaine Wynn added that she enjoys communicating with a number of executives at Wynn Resort, which allows her to keep up to date with the latest information, but she is now 78 years old, which also exceeds the age limit for the company’s board of directors.
Before Satre was appointed as chairman in 2018, Elaine Wynn initiated a campaign and eventually led to the removal of several directors.
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