Steve Wynn out: Properties a great trophy for Asian conglomerates

Finance


Jessica Rinaldi | Boston Globe | Getty Images

Steve Wynn during a press conference in Medford, Mass., on March 15, 2016.

That’s nothing new, according to Ossolinski, who said that Wynn Resorts “has always been a takeover target, as is Las Vegas Sands.”

But the chances of a deal may have shifted with Wynn’s exit.

“The difference is that he’s gone and he wouldn’t be there to fight a potential takeover. So there’s nobody standing in the way of a potential takeover now,” said Ossolinski, whose firm is a global emerging markets fund that invests in the gaming sector.

Wynn Resorts announced Tuesday evening that it had appointed Matt Maddox, who had been the company’s president, to be the CEO. Ossolinski said the gambling giant is well positioned to handle the change in leadership.

“No global gaming company is better positioned with succession planning than Wynn Resorts. So there’s going to be a very smooth transition here and almost seamless from the customer’s point of view.”



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