Phil Satre has joined Wynn Resorts as vice chairman. He will take over fully as chairman later this year when current incumbent D Boone Wayson steps down. Satre is president of the National Centre for Responsible Gaming and has served in various leadership roles in the gaming industry for more than 25 years, including as chairman and CEO of Harrah’s Entertainment and chairman of IGT among others. He has received numerous accolades, including his election to the American Gaming Association‘s Hall of Fame.
“The addition of someone of Phil’s calibre and experience is a significant step forward for Wynn Resorts as we turn the page on the last six months,” said Wayson. “Our goal is to give the management team, led by CEO Matt Maddox, an opportunity to grow and develop this company to its greatest potential. Phil’s insight and guidance will be invaluable as we move forward. I am proud of our accomplishments and am pleased that someone as outstanding as Phil will succeed me in the role as chairman.”
Wayson continued: “This appointment is the result of a collaborative effort with co-founder Elaine Wynn, which I believe will serve as the beginning of a constructive and unified effort by all parties to move the Company forward.”
Elaine Wynn said: “I have long respected Phil as a leader in the gaming industry and am confident that his addition to the company’s leadership team, coupled with the plans laid out by management, will bring the company tremendous success in the years to come. Phil’s role as vice chair, and as chairman in the future, will be key to furthering the Wynn Resorts brand as one of the premier destination resort operators in the world.”
Satre commented: “I have admired the innovation and excellence that have become the hallmarks of the Wynn brand. I am honoured to now have the opportunity to be joining Wynn Resorts at this important time and to play a role in the company’s continued success. I applaud the efforts by management and the board to respond to the current challenges faced by this otherwise first-class enterprise. The strength of the current board of directors, combined with the leadership of Matt Maddox and his team, give me confidence that the future is bright for Wynn Resorts.”
As Satre steps down from his role at IGT, he will be replaced by Lorenzo Pellicioli, vice chairman of the IGT board, who takes charge until its next meeting, at which time a new chairman will be elected.
Commenting on the development, Pellicioli said: “On behalf of the board, I want to thank Phil for his dedicated service and many important contributions. He successfully guided the company through a transformational merger that created the largest gaming company in the world. We wish him continued success as he takes on a new role at Wynn Resorts.”
