KIM SINATRA, a top Wynn Resorts official caught up in the scandal over Steve Wynn’s sexual misconduct, walked out the door of the company last summer with more than $9 million in cash and stock, according to a company proxy statement released on Wednesday.
Sinatra received a cash severance payment of $1.8 million and stock worth $7.3 million when she left the company on August 3, 2018, according to the proxy statement.
As the company’s former executive vice president, general counsel, and secretary, Sinatra played a key role in winning the license to open a casino in Everett. In January, Nevada gaming regulators identified her as one of several officials who became aware of sexual misconduct allegations made against Steve Wynn but failed to take any action. The Massachusetts Gaming Commission is expected to unveil its own report on Steve Wynn’s sexual misconduct next week.
RELATED: Gaming Commission grills Matt Maddox over payout to Sinatra
According to the Nevada report, Sinatra learned in 2012 that Wynn had made a private $7.5 million settlement payment in 2005 to a manicurist at Wynn Resorts and her husband. By July 2017, according to the report, she had become aware that the manicurist had alleged that Steve Wynn had raped her. The Nevada report also said Sinatra learned in 2016 of allegations that Wynn had sexually harassed flight attendants working on a company jet but did not report those allegations to the employee relations department.
Steve Wynn left the company in February 2018 and sold all his stock holdings. He did not receive a severance agreement and agreed not to compete against the company for two years, according to the proxy statement.
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About Bruce Mohl
Bruce Mohl is the editor of CommonWealth magazine. Bruce came to CommonWealth from the Boston Globe, where he spent nearly 30 years in a wide variety of positions covering business and politics. He covered the Massachusetts State House and served as the Globe’s State House bureau chief in the late 1980s. He also reported for the Globe’s Spotlight Team, winning a Loeb award in 1992 for coverage of conflicts of interest in the state’s pension system. He served as the Globe’s political editor in 1994 and went on to cover consumer issues for the newspaper. At CommonWealth, Bruce helped launch the magazine’s website and has written about a wide range of issues with a special focus on politics, tax policy, energy, and gambling. Bruce is a graduate of Ohio Wesleyan University and the Fletcher School of Law and Diplomacy at Tufts University. He lives in Dorchester.
About Bruce Mohl
Bruce Mohl is the editor of CommonWealth magazine. Bruce came to CommonWealth from the Boston Globe, where he spent nearly 30 years in a wide variety of positions covering business and politics. He covered the Massachusetts State House and served as the Globe’s State House bureau chief in the late 1980s. He also reported for the Globe’s Spotlight Team, winning a Loeb award in 1992 for coverage of conflicts of interest in the state’s pension system. He served as the Globe’s political editor in 1994 and went on to cover consumer issues for the newspaper. At CommonWealth, Bruce helped launch the magazine’s website and has written about a wide range of issues with a special focus on politics, tax policy, energy, and gambling. Bruce is a graduate of Ohio Wesleyan University and the Fletcher School of Law and Diplomacy at Tufts University. He lives in Dorchester.
Matt Maddox, the company’s current chief executive officer and president, saw his base salary rise from $1.5 million in 2017 to $1.9 million last year and $2 million this year. His total compensation, including salary, stock awards, and other compensation, hit $17 million last year, which was less than the $24.8 million he received in 2017. Steve Wynn’s salary in 2017, his last full year with the company, was $2.5 million and his total compensation was $34.5 million.
The proxy statement also reveals that top Wynn executives who spend time in Massachusetts are reimbursed by the company for any taxes they owe here. Wynn, even though he left the company in February 2018, received $19,553 to cover taxes owed in Massachusetts in 2018. Maddox received $14,445 and Sinatra was paid $17,184.
