Steve Wynn fined $10 million over sexual misconduct allegations

Wednesday, 31 Jul, 2023 0

Casino billionaire Steve Wynn has finally ended his involvement in the industry after agreeing to a $10 million fine.

It stipulates he must cut ties to the gambling industry.

Wynn resigned as the chief of Wynn Resorts in 2018 over sexual misconduct allegations.

Ever since he and the company have been in a legal fight with the Nevada Gaming Commission.

Wynn, now 81, ‘looks forward to moving on to other phases of his life,’ his attorney said.

Wynn Resorts Ltd paid a $20 million fine in 2019 for failing to investigate the accusations.

The Commission opened its own months-long investigation and found ‘evidence of sexual conduct involving some subordinate female employees.’

Under the settlement terms, Wynn hasn’t been forced to admit any wrongdoing.

A one-time Las Vegas strip legend, Wynn can own up to 5% of a casino company, but cannot have any direct or indirect involvement in its running.

The sexual misconduct scandal has cost Wynn and the company $65 million in fines in Vegas and Massachusetts.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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