The crack inside Wynn Resorts Ltd. board continued to widen after majority of its members rejected the nomination of former Harrah’s Chief Executive Phil Satre as the company’s newest chairman.
The New York Post reported that the tensions between Elaine Wynn, the largest shareholder in Wynn Resorts Ltd, and other members of the casino operator’s board ignited after the directors rejected Satre’s bid for either chairman or vice chairman roles.
Elaine reportedly backed Satre for the top two positions in Wynn Board, vouching before the Wynn board that the ex-Harrah’s executive was “extremely well-qualified” and that he served “on the boards of at least six public companies, including as chairman of the board of three public companies, and has extensive credibility with gaming industry regulators.”
She promised full support to the Wynn board for the next two years, if Satre’s chosen as the casino company’s chairman, according to Wynn Resorts.