The NFL's Las Vegas Raiders are reportedly weighing the idea of hiring Matt Maddox, the outgoing chief executive officer of Wynn Resorts, according to a report by the New York Post. A source cited by the publication claimed the team is seeking Maddox as president of the Raiders.
Maddox first announced he would be resigning as CEO of the casino company last November, set to become effective on January 31. Wynn officials explained back then that he would be pursuing new opportunities outside of the gambling industry, which shocked Vegas insiders as Maddox was most recently pulling down $24.5 million in annual compensation at the company.
Rumors of Maddox being approached by the Raiders come as the team’s former president, Marc Badain, resigned in July last year. Badain, along with the chief financial officer and controller, was allegedly pushed out by owner Mark David amid financial irregularities. The team’s general counsel, Dan Ventrelle, is currently acting as interim president.
Maddox first became Wynn Resorts CEO in 2018 after being the right-hand man of Steve Wynn for years. He replaced the company’s billionaire founder amid a series of sexual misconduct charges, including a rape allegation, which Wynn has denied since then, maintaining his innocence.
He first joined Wynn Resorts at its founding, in 2002, serving as vice president of investor relations and treasurer. In 2003, he participated in the building of Wynn Resorts Macau as its chief financial officer, while in 2013 he was appointed president and chief financial officer of Wynn Resorts.
While it has been noted Maddox is not in need of the money, given the pay packages he has received in recent years at the helm of Wynn Resorts, sources close to the businessman claim that accepting the Raiders position could offer him a high-profile chance to become “an even higher-profile” Las Vegas mogul, New York Post notes.
Maddox has shown his appreciation for the Las Vegas industry for a time now, and in October 2020, as part of an op-ed, said he had been “deeply entrenched” in the economy and culture of Las Vegas for almost two decades. “This is not only a place I love and call home, this is a place that I understand,” he described.
Should Maddox join the Raiders, he would do so amid a rough context for the franchise. The team’s Head Coach Jon Gruden resigned in October, following a report in the New York Times that said he used anti-gay and racist language in his emails. Gruden was in the third year of a 10-year, $100 million contract. Despite these setbacks, the team has managed to have a remarkable season, currently sitting on a 9-7 record and one win away from reaching the playoffs. It would be the first time for the Raiders since 2016.