Steve Wynn Pays $10 Million Fine Ending Ties With Las Vegas
Steve Wynn. The name has been synonymous to gaming in Las Vegas for decades. But that won’t be the case much longer.
Former Wynn Resorts Ltd. Chairman and CEO Steve Wynn signed a settlement agreement with the Nevada Gaming Control Board and will pay a $10 million fine that will bring an end to a sexual harassment complaint the board filed against him in 2019. The Nevada Gaming Commission will consider the settlement at its July 27 meeting in Carson City.
The Las Vegas Review Journal reports that representatives of Las Vegas-based Wynn Resorts had no comment on the settlement. If approved by the commission, the $10 million fine would be the largest ever assessed against an individual licensee.
Terms Of Settlement:
Under the terms of the settlement, Steve Wynn will not admit to or deny wrongdoing and will waive a hearing on the matter and “shall remain entirely removed from any direct or indirect affiliation, financing, consultation, promotional advertising in any form of media or licensing agreement in the Nevada gaming industry.”
Wynn Resorts Overhaul:
Several publications, including The Wall Street Journal, reported complaints from female employees about sexual harassment in early 2018. Wynn repeatedly denied harassing anyone. In the weeks following the allegations, Wynn resigned his positions with the company, and resigned from his position of finance chair for the Republican National Committee.
In early 2019, the Nevada Gaming Commission fined Wynn Resorts $20 million for failing to respond to the harassment complaints from several women. A few months later, the Massachusetts Gaming Commission fined the company $35 million.
The complaint was five-counts, 23-pages against Wynn. The investigation found that there were harassment complaints that started as early as 2005 when Steve Wynn was first licensed as an executive with Wynn Resorts.
During this time, several women in employment positions that were subordinate to Steve Wynn reported that he “subjected them to unwanted sexual advances,” the complaint said.
What’s Next: