Billionaire Steve Wynn’s resignation as head of his gaming empire may alleviate some concerns over the future of Wynn Macau Ltd.’s license in the world’s biggest gambling hub.
Wynn Macau’s permit is up for renewal in 2022, and Macau regulators are preparing to outline the process for casino-license bidding later this year. Allegations that Wynn pressured employees for sex -- which have drawn scrutiny from regulators in the U.S. and Macau -- complicated Wynn Macau’s status in the former Portuguese enclave that generates the bulk of Las Vegas-based Wynn Resorts Ltd.’s profits.
