Former CEO of Wynn Resorts Steve Wynn to pay $10m in sexual misconduct settlement
Allegations against Wynn first emerged in 2018.
Former CEO of Wynn Resorts Steve Wynn has agreed to pay $10m in fines. Wynn has agreed to pay these fees in a settlement related to sexual misconduct allegations made against him.
Allegations against Wynn first emerged in 2018 when several women reported to the Wall Street Journal and revealed allegations dating back several years.
The original complaint was filed against Wynn by the NGCB in 2019. The petition claimed, “multiple women in employment positions that were subordinate to Mr. Wynn reported that Mr. Wynn subjected them to unwanted sexual advances.”
As a result of this, Wynn will pay $10m to the Nevada Gaming Control Board (NGCB) and has promised to never be involved in the gaming industry in Nevada again. However, it was noted that a “passive ownership” of 5% or less is still possible through stocks.
In addition to this fine, Wynn Resorts paid $20m to the Gaming Commission in February 2019 to settle complaints detailing years of failure to investigate accusations directed at Wynn. This was followed by another fine in 2019, this time $35m, to gaming regulators in Massachusetts for covering up allegations.
The former director of the Wynn Resorts beauty salon that was at the center of the misconduct allegations against Wynn sued the resort in 2019
A hairstylist at the salon told the Wall Street Journal that company executives took no action when they were told about sexual advances by Wynn, a decision that he lead to a further financial punishment.
Since 2018, Wynn has lived in Florida.
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