Casino magnate Steve Wynn agreed to pay a $10 million fine and will be banned from Nevada’s gambling industry under an agreement approved Thursday to resolve a sexual misconduct complaint filed by state regulators.
(Bloomberg) — Casino magnate Steve Wynn agreed to pay a $10 million fine and will be banned from Nevada’s gambling industry under an agreement approved Thursday to resolve a sexual misconduct complaint filed by state regulators.
Wynn, the former Wynn Resorts Ltd. chief executive officer, neither admitted nor denied allegations in a 2019 complaint claiming he “subjected subordinate employees to unwelcome sexual advances” and put the Nevada gaming industry’s reputation at risk. Wynn will no longer have any involvement in an industry he helped transform, under the accord approved Thursday by the Nevada Gaming Commission.
“Resolving this matter with Mr. Wynn protects the gaming industry and the citizens of Nevada,” Kirk Hendrick, chairman of the Nevada Gaming Control Board, said in a statement. “Closing this dark chapter in Nevada’s gaming history allows more time for the board to continue effectively and efficiently regulating Nevada’s most important industry.”
The state filed its complaint after the Wall Street Journal reported in 2018 about employees detailing sexual misconduct by Wynn, including a manicurist who received a $7.5 million settlement after she claimed he forced her to have sex with him.
Read more: Wynn Officials Hid Sexual Harassment Claims, Probe Finds
Nevada gaming regulators fined Wynn Resorts $20 million in 2019 for failing to investigate and act on sexual harassment allegations against its founder and former CEO. Wynn stepped down from the company’s board in 2018.
An attorney for Wynn, J. Colby Williams, didn’t immediately respond to a request for comment.
In their investigation, gaming regulators interviewed employees, reviewed company policies and confidential settlement agreements “between specific employees, Mr. Wynn and the Wynn Company,” according to the 2019 complaint.
“When asked during interviews why they did not just say ‘no’ to Mr. Wynn’s sexual demands or find another job, female employees identified financial dependency on their current jobs and fear of firing, blackballing, or other reprisals by Mr. Wynn,” it said.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.