Wynn Macau Ltd has confirmed it will follow the lead of its US parent, Wynn Resorts, and appoint Craig Billings as the company’s new CEO once current chief Matt Maddox steps down early next year.
Billings will take over as Wynn Macau CEO and be redesignated from a non-executive Director to an executive Director from 31 January 2022, while Maddox will remain on the board as a non-executive Director until 31 December 2022.
It follows an announcement by Maddox last month that he would step down next year following 20 years with the company and four in the top job, citing a desire to pursue new career opportunities. His decision to temporarily remain on the Board of Directors of Wynn Macau and Wynn Interactive was made at the request of his fellow Wynn Resorts directors.
Billings, the former Wynn Resorts President and CFO who was only recently appointed to lead the company’s interactive arm, was also named last month as Maddox’s replacement as Wynn Resorts CEO.
In a filing overnight, Wynn Macau added that Maddox would also resign from his positions as director and officer of the Company’s subsidiaries, including as the chairman of the Board of Directors of Wynn Resorts (Macau) S.A.(WRM) – the entity that holds the company’s gaming concession.
“Subject to the completion of certain Macau regulatory procedures, Mr Billings will become the chairman of the Board of Directors of WRM,” it said.
Billings joined Wynn Resorts as CFO in March 2017 and has been a board member of Wynn Macau Ltd since August 2018, having previously held executive and board positions with Aristocrat Leisure Limited, NYX Gaming Group, IGT and Goldman Sachs.
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