Wynn Resorts is being allowed to hold onto its gambling license despite the allegations against the founder. Nevada Gaming Commission (NGC) levied a fine of $5.5 million in 2014 against CG Technology. This fine has now been trumped by the penalty that Wynn Resorts is being asked to pay due to the founder and CEO, Steve Wynn, not being able to control his sexual desires.
The company is being asked to forfeit $20 million dollars due to not investigating the claims against Wynn.
As the gambling license will not be taken away Wynn can easily recuperate the $20 million dollars. NGC Commissioner Philip Pro has said, “It’s not about one man. It’s about a failure of a corporate culture to effectively govern itself as it should.” He further said that the commission was the guardian of gambling and thereby, has the responsibility of ensuring that casino operators do not do things to disrepute the industry.
Two of the commissioners on the board namely, Deborah Deutsch and John Moran Jr., wanted to ask Wynn to pay a larger fine. NGC Tony Alamo said the amount of the fine will make it clear to all licensees that this culture is not acceptable and the company will get time to recuperate.
The gambling license of Steve Wynn was frozen by the NGC. The commission will not go after Wynn or after anyone else in the company. Moran who is the Commissioner, stated that, “Isn’t it strange that the people that are the subject of this aren’t even in the room today? The people that are in this room now … they’re left with the train wreck to try to fix it.”