Casinos and Gaming

Wynn CEO: I'm ready to talk about the future with Elaine Wynn, our largest shareholder and co-founder

Key Points
  • New Wynn Resorts CEO Matt Maddox says he has reached out to Steve Wynn's ex-wife several times to talk about the future of the company.
  • "She has my cellphone. She has my email," he says.
  • "I talk to the other shareholders a lot, and I'm hopeful that over time, the wounds will heal," Maddox says.
Wynn CEO: The first thing I had to do was 'reduce the noise'

New Wynn Resorts CEO Matt Maddox said Wednesday he's ready to talk business with Elaine Wynn, the company's largest shareholder and ex-wife of disgraced casino mogul Steve Wynn.

"I've reached out to her a number of times to talk about the future of the company," Maddox told CNBC's "Squawk Box." "I'm really excited about the future of the company. And anytime she wants to meet with me and talk about the future, I'm open. She has my cellphone. She has my email."

Elaine Wynn, who co-founded the company and owns about a 9 percent stake, began a campaign to remove one of three board members investigating sexual misconduct allegations against Steve Wynn. She has said the director is too close with her ex-husband.

"I talk to the other shareholders a lot and I'm hopeful that over time, the wounds will heal," Maddox said.

A spokesperson for Elaine Wynn told CNBC: "Elaine's not making a request of management. She's making requests of the board. Everything is a board issue. Matt's not on the board. He has nothing to do with this."

In January, Steve Wynn — the long-time chairman and CEO and namesake of Wynn Resorts — came under fire after The Wall Street Journal reported workplace sexual misconduct complaints going back years. Steve Wynn, who has denied any wrongdoing, resigned as CEO, making way for the 42-year-old Maddox. Steve Wynn has since agreed to sell his stake in the company.

Former Wynn Resorts' CEO Steve Wynn at the Venetian Las Vegas on September 30, 2014.
Ethan Miller | Getty Images

After the allegations surfaced, the stock took an immediate hit but has since recovered.

Maddox has claimed he had no prior knowledge of sexual misconduct complaints against Steve Wynn.

Since taking over the helm of the company, Maddox said Wednesday he's been focused on reducing the noise surrounding Steve Wynn and the company's long-running legal battles, including one with Japan's Universal Entertainment. The company named three women to its board.

Wynn Resorts late Tuesday posted adjusted quarterly earnings of $2.30 per share, beating estimates by 32 cents, although the casino operator's revenue was slightly below forecasts. Wynn also increased its quarterly dividend to 75 cents per share from 50 cents.

"We have a great underlying business, we have the best assets in the integrated resort business in Las Vegas and Macau, but everyone seemed to be focused on these historical issues," said Maddox, who has been with the casino operator since 2002.

Maddox said the company's issues are not over yet. He said it is focused on what it does best and denied rumors the business is looking for a potential sale.

"The refresh has just started," he said. "This board is about the future, we are not done."

— CNBC's Contessa Brewer contributed to this report.