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Matt Maddox, the now former chief executive officer of Wynn Resorts (NASDAQ:WYNN), sold a big slice of his equity stake in the integrated resort operator on Monday — his last day on the job.
He liquidated nearly 108,000 of his Wynn shares on Jan. 31, according to a Form 4 filing with the Securities and Exchange Commission (SEC). The filing indicates there were two transactions — one for the sale of 32,364 shares and the other for 75,462 shares.
The initial transaction was at an average price of $85.45, according to the regulatory document, indicating Maddox grossed $2.76 million on that sale. No average price was given for the larger sale, but assuming at the same price, that’s worth another $6.44 million to the former Wynn boss.
At the time of Maddox’s sales, Wynn stock was trading below where it was in December when he disposed of 20,000 shares at a price of $90.08, hauling in $1.8 million in proceeds. That sale arrived after Maddox liquidated 15,740 shares of Wynn stock at a price of $91.10 on Nov. 4 — just days before he announced his decision to step down from the helm of the Encore operator.
Maddox now owns 286,603 shares of the Encore operator.
What’s Next for Maddox
Craig Billings is succeeding Maddox as CEO and replacing him on the Wynn board of directors.
Maddox, 46, had been with the gaming 토즈토토 www.sportstoto7.com
company for 20 years. He’s credited with steadying the company following numerous sexual misconduct allegations forced the ouster of founder Steve Wynn in 2018. Just two years later, Maddox steered the operator through the coronavirus pandemic, opting to take the bulk of his 2020 compensation in shares instead of cash. That’s as Wynn confronted shutdowns of its gaming venues in Macau — its largest market — and in the US.
Later that year, he served as the architect of a health and safety plan presented to Nevada state leaders aimed getting Las Vegas casinos open and running again.
Today, it’s believed Maddox will pursue ventures outside the gaming industry, with speculation tying him to Nevada politics and a high-level role with the Las Vegas Raiders. But there is no confirmation on either rumor.
What’s Next for Wynn
Wynn reports fourth-quarter results on Thursday, Feb. 3 after the close of US markets. That will be the first report and earnings conference call with Billings at the helm.
There’s likely to be some talk of the operator’s recently announced plans for an integrated resort in the United Arab Emirates, and likely questions from analysts regarding the company’s plans for its Wynn Interactive unit. Last month, rumors surfaced the operator is looking to sell its iGaming and sports wagering for $500 million — a stunningly low price — but Wynn hasn’t publicly confirmed or denied that speculation.
As for Maddox’s remaining equity in the gaming firm, he hasn’t announced his intentions for those 286,603 shares.
Jack Colletto’s future, betting on college sports, Oregon State football investment: Q&A with Beavers coach Jonathan Smith
Prior to Wednesday’s national signing day, The Oregonian/OregonLive talked to Oregon State coach Jonathan Smith about several subjects pertaining to Beavers football.
From the interview, we had a few stories (quarterback situation, new coaches). Here are snippets from the rest of the interview on a wide-ranging number of subjects.
Question: In what areas did you feel the football program advanced in 2021?
Smith: Obviously, especially to the middle of the season, the win-loss record and the conference play. The ability to finish some games was a positive sign. I feel like our physicality is dramatically different compared to Year 1, Year 2. The offensive line play started that, but then the tight ends and then the defensive line. I think we’re continue to build off an identity, especially offensively. We know what we want to do, and we can recruit to that, play call to that, game plan to that. I think that’s some of the beauty continuity gives you. https://en-urban.tau.ac.il/tau/search?keys=https://sportstoto7.com/
Q: Where did you feel you regressed in 2021?
Smith: I look to the second third of the season, when we got to five wins. Had a couple tough losses. That was a regression, plenty of opportunity to win more games than we did. I didn’t think we finished with our best football either, in our last two games. Credit to the teams we’re playing, but I felt like we could have finished better in those last two games.
Q: Any thoughts of bringing linebacker Jack Colletto back to offense full time, given the impact he has on that side of the ball?
Smith: I think we continue to use him more and more. He’s at a competitive group at inside linebacker. The two kids in front of him (Avery Roberts, Omar Speights) limited his opportunities. We’ll go through spring and kind of see how he does. Offensively, he wasn’t just a Wildcat quarterback. If that need goes up, which we’re not afraid to do, we’ll make sure we’re not overdoing him. But the guy is so smart. We do feel like he can play 벳무브 www.sportstoto7.com in all three phases at a high level. I’m not going to limit his opportunities on defense because he can’t handle it. He can handle everything we’re throwing at him.
Q: I ask only because it seems like his future, if he wanted to play in the NFL, might be H-back or fullback.
Smith: He’s got a chance to do that, and special teams. He just hasn’t played all that much linebacker because we’ve had those two guys. But he’s pretty good. He could have a nice year at linebacker.
Q: Anyone else you’re thinking might make a move to another position?
Smith: No, but as we get closer to spring ball we might have a conversation or two. But currently, no.
Q: Have you put any current walk-ons on scholarship of late?
Smith: No, just the guys we put on scholarship during the fall. Everett Hayes, Dylan Black, Luke Loecher, Trey Lowe, Kitan Oladapo. You look at our roster and what we put out there, it’s coming from all kinds of different avenues. Transfer portal, high school recruiting, we have a couple junior college players. But then we’ve got a half-dozen walk-ons that have earned scholarships. Throw Jaydon Grant into that. We’ve got a wide variety. https://www.handbook.fca.org.uk/handbook?site-search=https%3A%2F%2Fsportstoto7.com%2F
Q: The transfer portal is as busy as it’s ever been, but haven’t seen a lot of activity from Oregon State of late. But then, we don’t see all the behind-the-scenes stuff. How active have you been?
Smith: We’re a little selective with our roster. We just have a lot of guys coming back. We’re not going to turn down a good player that we think can help us. I don’t think we’re in a desperation mode to go sign four or six guys. It’s just what we have coming back, it’s the limited number of guys we’ve lost. You look at some of these other programs, it’s like 15 guys in the portal. We’ve got a handful.