Former Wynn Resorts’ CEO Steve Wynn has been making headlines for all the wrong reasons ever since the Wall Street Journal published a story exposing the allegations of sexual misconduct against the casino mogul by several female employees at Wynn.
Recently, the Nevada gambling regulators called for ousting Steve Wynn from the casino gambling industry.
Wynn’s attorney’s have submitted a 19-page document in response to the Nevada Gaming Control Board’s decision to impose sanctions on Wynn.
In the document submitted, Wynn’s attorneys challenge the legitimacy of the gaming board to impose restrictions on their client Steve Wynn, by invoking the jurisdiction question. The document details that since Steve Wynn does not own any property and also does not hold any position in the company in Nevada, the gambling regulator is not in the capacity of imposing any sanctions.
Following an inquiry into the complaints of sexual harassment, Steve Wynn resigned as Wynn Resorts chairman and chief executive in February and sold company shares.
The document also contends there’s no such thing as an “administrative hold” on a license making a reference to the status that the Nevada Gaming Control Board says the commission imposed on Wynn.
Earlier last year, following an inquiry, the state gaming control board imposed a $20 million fine on Wynn Resorts for failing to launch an investigation into the allegations of sexual misconduct against its former boss.
However, with extensive criticisms and troubles mounting Steve Wynn resigned as the CEO Wynn Resorts. He was replaced by Matthew Maddox.
Wynn Resorts was also fined by the Massachusetts Gaming Commission for being complicit in concealing the allegations against its chief.
Steve Wynn himself maintains that because he is no longer associated with the company, the Gaming Commission has no right to penalize him.
Wynn’s lawyers in response to the lawsuit against him had questioned: “Has the Nevada Legislature expressly or implied authorized Nevada’s gaming regulators to discipline a person who no longer has any involvement with a Nevada gaming licensee and, thus, no longer poses an alleged threat to the industry or the public at large?”
Last month, Wynn Resorts shareholders were awarded a $41m in a lawsuit settlement in connection with allegations of sexual misconduct against their former CEO Steve Wynn.