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The New King of Vegas Isn't Nearly as Flashy as His Old Boss

  • Maddox needs to separate casino empire’s brand from founder
  • Macau-strategy architect may end up fielding takeover offers
Bloomberg business news
Wynn Resorts Founder Steve Wynn Steps Down

Even in a city known for glitz and glamour, Steve Wynn stood out. He leaves the gambling empire he built in the hands of a man who spends his days out of the spotlight.

As the new chief executive officer of Wynn Resorts Ltd., Matt Maddox will face some tough challenges right out of the gate. Top among them is how to separate Wynn the brand from Wynn the man. Before announcing his exit as CEO on Tuesday, Steve Wynn was fighting accusations of sexual harassment that had triggered probes from Nevada to Macau and threatened to derail licenses for new projects.