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Wynn Resorts board says NO to chairman candidate

Niji Ng

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Wynn Resorts board says NO to chairman candidate
Photo Credits: Wynn Resorts
Reading Time: 2 minutes

The board Wynn Resorts Ltd., which was mired in the controversy over sexual abuse allegations against its previous, has reportedly rejected the new chairman candidate. It is said that Elaine Wynn, the majority stakeholder, had proposed the new candidate. The filing to the US Securities and Exchange Commission, which revealed the development, did not identify the candidate proposed by Ms Wynn. A report by Bloomberg News identified the person as Phil Satre, the former chief executive of Harrah’s Entertainment, now called Caesars Entertainment Corp. He is currently chairman of casino equipment maker International Game Technology Plc.

The news agency said Mr Satre had confirmed to Bloomberg he withdrew his name from consideration for a Wynn Resorts board seat, but Mr Sartre did not provided further details about the matter.

Wynn Resorts is the parent company of Macau casino operator Wynn Macau Ltd. The parent firm has expressed interest in bidding for a potential casino licence in Japan.

In her latest filing, Ms Wynn stated that her proposed candidate was “extremely well-qualified”, having 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”. The document added that the person was not a “close associate” of Ms Wynn.

The filing said: “the reason provided for [Wynn Resorts] board’s decision was that neither the nominating and corporate governance committee nor the full board wanted to bring in an outsider as a vice chairman, despite the candidate’s qualifications.”

Ms Wynn further added that, “in an effort to resolve differences between the company and herself, [she] had offered to sign a multi-year standstill in exchange for the candidate’s appointment as chairman.”

The filing stated that the candidate had “made a board leadership position (chair or vice chair) an express condition to his willingness to join the board, because he felt that a leadership role would be necessary for him to be in a position to help address the company’s regulatory issues.”

The document added: “While the board offered the candidate a board seat, the board did so knowing that it would not meet the candidate’s condition, and he declined.”

In the filing, Ms Wynn again called for all board members of Wynn Resorts to be elected annually. She also expressed concerns that the board “would do something inappropriate with respect to the terms of the departure of Kim Sinatra,” arguing that Wynn Resorts should seek advice whether to consider this a ‘for cause’ termination. Ms Sinatra will cease to serve as the company’s executive vice president, general counsel and secretary with effect from July 15.

Wynn Resorts has been under pressure from Ms Wynn, a co-founder of the firm, and from some investor advisory firms, to bring in new faces at senior level since the publicity given in January to allegations that former chairman and chief executive Steve Wynn had sexually harassed employees. The entrepreneur has denied the claims, and eventually left the firm in February.

The structure of the Wynn Resorts’ board has changed dramatically over the past three months, with 60 per cent of the directors that had been in place at the start of the year now having departed.

The casino company announced in April the appointment of three new directors for its board, all of them women.

Source: ggrasia.com

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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SoftGamings teams up with Yggdrasil to offer its innovative games

George Miller

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SoftGamings teams up with Yggdrasil to offer its innovative games
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SoftGamings is pleased to announce its partnership with Yggdrasil as it supplies all its best-performing casino slots and table games in its portfolio to its teeming casino operators.

Yggdrasil is an iGaming provider company founded in 2013. Over the years, the iGaming provider has become a creator, innovator, and a game changer, that remains driven by a strong passion for developing outstanding games. Little wonder Yggdrasil is among the best gaming providers with numerous awards and recognition to its profile.

Softgamings: outstanding iGaming solution provider

SoftGamings is an industry expert iGaming provider that knows everything about building and growing successful online casino businesses. The iGaming solution provider keeps sporadically increasing as a result of its innovative approach to handling casino business.

SoftGamings provides the iGaming market with vast products and services that are outstanding. The iGaming solution provider has 40+ top game providers and offers a unified API Integration package for casino operators to seamlessly integrate games.

With these cutting-edge products and services that SoftGamings provides the iGaming industry, it remains a significant iGaming provider to reckon on.

The Director of Partnerships in SoftGamings, Irina Sazonova had this to say:

“We are very excited about the partnership with Yggdrasil. It is a foremost provider with a huge portfolio of fascinating games which are extremely popular among gamblers. We are pleased to have their quality products as part of our integration offerings.”

Yggdrasil – innovative gaming solutions supplier

Yggdrasil is a provider of superior online gaming solutions for igaming operators. The business was founded in 2013 and has since emerged as one of the industry’s most respected and acclaimed suppliers.

Yggdrasil operates a highly scalable business model and covers three product verticals: Casino Slots, Table Games and Bingo, in addition to the business verticals: Yggdrasil White Label Studios, YGS Masters and Yggdrasil Dragons. Since its inception, Yggdrasil has embarked on a solid growth trajectory enabled by a strong corporate culture focused on innovation, creativity, quality and technology leadership. Yggdrasil is headquartered in Sweden and has offices in Malta (operational HQ), Poland and Gibraltar.

With these innovative games and revolutionary gaming solutions provided by the iGaming provider, SoftGamings’ portfolio is perfect for Yggdrasil’s products.

 

About SoftGamings:
SoftGamings is a B2B casino platforms provider and gaming systems aggregator. With over 10 years of experience in the industry, SoftGamings provides solutions demanded in the market and develops its own creative solutions – White Label, Turnkey, Self-Service, Bitcoin platform solutions, Bonus System Standalone feature, Sportsbook solution, Slots Bundle, Live Bundle and Casino Games Integration. SoftGamings’ strong IT team can also provide gamification possibilities, which is one of the major industry trends. Products portfolio includes 40+ gaming suppliers with 3000+ games. The company offers live dealer solutions from Evolution Gaming, NetEnt, Ezugi, Authentic Gaming, Lucky Streak etc, slots from NetEnt, Microgaming, BetSoft, Endorphina, Habanero, Booming Games, WorldMatch etc, sportsbook, hosting, licensing and banking services. Over 100 clients use SoftGamings products and services since 2007.

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Compliance Updates

Belgium heads new project to standardise European gaming law

Niji Ng

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Belgium heads new project to standardise European gaming law
Photo Source: rfi.fr
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Peter Naessens, the director of the Belgian Gaming Commission, is going to lead a new project aimed to standardise online gambling legislation across Europe.

The project is under the ageis of the European Committee for Standardisation. A number of industry bodies and regulators join hands in the project to create rules for compliance and reporting that will become standard in the industry.

Their most important goal is to implement standards on the sort of data the online gambling operators need to send to their respective regulators, as well as the manner in which they do it. Technical Committee 456 will be the group responsible for setting these standards.

The committee has the task of “Reporting in support of online gambling supervision.”

The impetus for creating this committee came from a request by the European Commission. It was labelled “Standardisation request to the ‘European Committee for Standardisation’ as regards a European standard on reporting in support of supervision of online gambling services by the gambling regulatory authorities of the Member States.”

Currently, member states of the European Union’s regulatory authorities are in charge of supervising online gambling activities in the region. This is done through information reported by the operators or the software suppliers about online gambling.

Standards are currently lacking and need to be improved. This project will develop new requirements for the reporting of online gambling. This will help improve levels of consumer protection, game fairness, transparency of operations, and identifying and stopping match-fixing and other forms of fraud.

Feedback and suggestions will be obtained from gambling regulators, operators, consumers associations and gaming suppliers. They can offer their expertise and guidance on how best the group can create these new standards.

The new committee will strive to rectify any issues present. New standards will help all parties concerned.

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Industry News

GiG signs Swedish artist, Erik Segerstedt, for audio collaboration agreement with GiG Games

George Miller

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GiG signs Swedish artist, Erik Segerstedt, for audio collaboration agreement with GiG Games
Reading Time: 2 minutes

 

Gaming Innovation Group Inc. (GiG) has signed an agreement with Swedish artist Erik Segerstedt, who  will deliver all audio for the upcoming game ‘Popstar’ which is being built by GiG’s in-house casino games developer, GiG Games.

‘Popstar’ is planned to be released in H1 2019 across all markets where GiG Games has a presence.

Mathias Larsson, Managing Director of GiG Games, says: “We are very excited about this agreement as it is the first time in our industry where a renowned artist has been involved from day one to compose audio for a game. Erik will create all audio for the game ‘Popstar’ which include computer sound generated effects, background music and much more. On top of that, GiG has taken a stake in the upcoming album from Erik which will be released simultaneously with the game launch.”

Artist, Erik Segerstedt, says: “I am very excited about this opportunity. I am used to co-working with record labels, however this is a totally new experience for me. Making sounds and effects for the game is very inspiring and I believe my expertise and experience as an artist will bring a new dimension to the game ‘Popstar’.”

Carlos Barth, CEO of Summit Music Management says: “This is the start of a revolution in the music industry where partners of an artist are going to be backing an album instead of a record company. These collaborations are going to support bringing new music to the audience as the business model is not  limited as it was before. Now, we can be more flexible in finding ways to ensure both partners reach a successful result.’”

Popstar’ will be released in H1 2019 across all markets where GiG Games has a presence.

 

About Erik Segerstedt:

Erik Segerstedt is one of Sweden’s most recognised artists. As a singer and piano player, he was first introduced to the public through the casting show “Idol”. Following his appearance on the show he formed a group with other contestants called ‘EMD’ . ‘EMD’ was a big success and produced a string of radio hits and successful tours. Following ‘EMD’, Erik started a solo career and has had a number of successful song releases as well as  appearances in the Swedish television’s dance contest; ‘Let’s Dance’ . Erik is also a regular guest artist on radio shows, movies, television, theatre and concerts.

 

About Gaming Innovation Group (GiG):

Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group’s vision is ‘To open up iGaming and make it fair and fun for all’. Through its ecosystem of products and services, it is connecting operators, suppliers and users, to create the best iGaming experiences in the world. Gaming Innovation Group operates out of Malta and is listed on the Oslo Stock Exchange under the ticker symbol GIG.

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