LAS VEGAS, April 29, 2019 /PRNewswire/ -- Wynn Resorts WYNN today announced that leading independent proxy advisory firms, Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co. ("Glass Lewis"), have recommended that the Company's shareholders vote FOR all of the Wynn Resorts Board's proposals at the Company's 2019 Annual Meeting of Shareholders to be held on May 7, 2019.
Citing the Board's extensive, year-long outreach to understand and address shareholder concerns, each of the two leading proxy advisory firms endorsed Wynn Resorts' improvements and recommend shareholders vote "FOR" the Company's executive compensation proposal. Both ISS and Glass Lewis recommend that shareholders vote "FOR" all three directors who are up for re-election: Jay L. Johnson, Margaret J. Myers and Winifred M. Webb.
Philip G. Satre, Chairman of the Wynn Resorts Board of Directors, said, "Over the past year, the Board has engaged extensively with our shareholders and taken decisive action to improve our culture and governance. As we lead Wynn Resorts into the future, we will continue to seek input from all of our stakeholders and action on matters that are in the best interest of our guests, our employees and our shareholders. We appreciate the validation ISS and Glass Lewis have provided to us, through their rigorous reviews of the progress we've made."
In supporting Wynn Resorts' director nominees, Glass Lewis stated*:
"Given the very high level of refreshment of the Company's management and board, as well as the remedial actions taken by the Company following Mr. Wynn's ouster, we do not believe it is necessary for shareholders to oppose the election of any of the board's current directors based on the failings of former Company officials detailed by the [Massachusetts Gaming Commission] and [Nevada Gaming Control Board] reports."
In supporting Wynn Resorts' executive compensation, ISS stated*:
"The company has made a number of changes to its executive pay practices in 2018 and 2019 that are expected to strengthen the alignment of pay and performance."
* Permission to use quotations neither sought nor obtained
About Wynn Resorts
Wynn Resorts, Limited WYNN is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Wynn Macau (wynnmacau.com) and Wynn Palace, Cotai (wynnpalace.com).
Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,750 spacious rooms, suites and villas, approximately 192,000 square feet of casino space, 22 dining experiences featuring signature chefs and 11 bars, two award-winning spas, approximately 290,000 square feet of meeting and convention space, approximately 106,000 square feet of retail space as well as two showrooms; three nightclubs, a beach club and recreation and leisure facilities. Wynn Las Vegas recently unveiled Wynn Plaza, a Strip-front expansion that offers a collection of world-renowned luxury, contemporary, and lifestyle brands.
Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative Region of the People's Republic of China with two luxury hotel towers with a total of 1,008 spacious rooms and suites, approximately 273,000 square feet of casino space, casual and fine dining in eight restaurants, approximately 31,000 square feet of meeting and convention space, approximately 59,000 square feet of retail space, and recreation and leisure facilities including two opulent spas, a salon and a rotunda show.
Wynn Palace is a luxury integrated resort in Macau. Designed as a floral-themed destination, it boasts 1,706 exquisite rooms, suites and villas, approximately 424,000 square feet of casino space, 11 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 106,000 square feet of designer retail, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a lush spa, salon and recreation and leisure facilities.
Wynn Resorts is currently constructing Encore Boston Harbor located in Everett, Massachusetts.
SOURCE Wynn Resorts
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