Wynn Las Vegas President Steve Weitman Leaving Company

Posted on: April 19, 2024, 09:04h. 

Last updated on: April 19, 2024, 09:04h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Wynn Resorts (NASDAQ: WYNN) noted today Steve Weitman, the president of the operator’s Las Vegas Strip properties, is leaving the company effective June 10.

Wynn Resorts
Wynn and Encore on the Las Vegas Strip. President Steve Weitman is leaving the venues in June after two decades with the company. (Image: Luxury Lifestyle Magazine)

The executive didn’t give a reason for his departure beyond noting he’s evaluating other opportunities and now is “the right time to pursue my next chapter.”

After 20 years with this great company and leading the property to the best financial results in its history, Wynn Las Vegas and Encore are in an excellent operating position,” Weitman said in a letter to colleagues and staff at the Strip venues. “This has been an amazing journey and I could not be prouder to have worked alongside the best in the business. The friendships and relationships I’ve built with many of you over the last two decades will last a lifetime, for which I am most grateful.”

Wynn and Encore Las Vegas are the operator’s Sin City properties and two of its three US venues with the other being Encore Boston Harbor.

Weitman Had Long History with Wynn

When he leaves the gaming company on June 10, Weitman will have spent just over two decades with the firm.

He joined as senior vice president of Wynn Las Vegas — a role he held for 12 years and five months — in May 2004. In September 2016, he was promoted to chief operating officer (COO) of the Sin City venues. He occupied that role until January 2023 when he was elevated to president.

“All of us will miss Steve, but after such a long and successful run, we can all understand why he now wants some time to consider other life options. … Steve has been an integral part of Wynn Las Vegas for 20 years. He has demonstrated a singular level of dedication to Wynn and has contributed so much to our success. His career within the company has been inspiring to so many,” said Wynn CEO Craig Billings in a note to staff.

Prior to joining Wynn, Weitman spent more than eight years as director of operations and licensing for Walt Disney at that company’s Burbank, Calif. headquarters.

Interesting Timing for Weitman Departure

While neither Weitman nor Wynn gave a specific reason for the executive’s decision to leave the helm of Wynn Las Vegas, his departure comes as the operator is embroiled in litigation against Fontainebleau Las Vegas for pilfering Wynn staffers.

Wynn formally sued Fontainebleau in late February with the newest venue on the Strip firing back with a legal complain of its own less than a month later. Wynn believes that several former culinary and nightlife employees that jumped ship to Fontainebleau actively attempted to recruit former colleagues still employed at Wynn and some may have violated non-compete agreements with Wynn.

To be clear, there is no news at this point about Weitman moving to another casino or staying in the gaming industry following his June departure from Wynn Las Vegas.