Wynn Resorts Fined $35 Million But Allowed To Keep Its Casino License

Wynn Resorts Fined $35 Million But Allowed To Keep Its Casino License

Massachusetts Gaming Commission has slapped a whopping $35 million fine on Wynn Resorts for their handling of the sexual misconduct allegations on CEO Steve Wynn.

Steve Wynn had been alleged of sexual misconducts with female employees at Wynn’s casino resorts. The issue first came into light after The Wall Street Journal first reported about allegations of sexual misconducts against company CEO, Steve Wynn, last year.

Following the report, Steve Wynn reigned as CEO, and the gambling regulators in Nevada and Massachusetts initiated an investigation about the allegations of misconduct.

Following the investigations the Nevada Gaming Commission fined Wynn Resorts $20 million; however, they allowed the company to retain their casino license.

Now, after receiving a 200-page report detailing the findings of the investigation, Massachusetts Gaming Commission has fined Wynn resorts $35 million but have allowed them to continue with their casino license.

In addition to the fine, the gaming commission has also fined CEO Matthew Maddox $500,000 as he was found to have not taken any step to investigate the allegations and concealing the accusations.

Moreover, both gaming regulators have found that the employees and the management at Wynn had failed to take any disciplinary action or even bothered to initiate an internal inquiry about the allegations of sexual misconducts.

The investigations also found that there were multiple complaints of sexual misconduct which were not brought to the notice by the company’s employees and executives.

Of the allegations not disclosed was an incident of 2005 when a salon worker received $7.5 million personally from Steve Wynn who had alleged that she was raped and impregnated by the former Wynn Resort CEO.

Steve Wynn had denied the allegations and said that all these relations were consensual.

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