Steve Wynn Set to be Thrown Out from Industry Over Misconduct Allegations

Steve Wynn is set to be thrown out of the gaming industry if the regulators in Nevada have their way. The mogul is facing allegations of sexual misconduct against employees and the regulator wants him ejected a result.

The Nevada Gaming Board has filed an official complaint with the Nevada Gaming Commission claiming that Wynn lacks honesty and integrity and is not of “good character”, thus rendering him an unsuitable individual to hold a licence.

Companies slapped with multi-million dollar fines 

Wynn, 77, stands accused of multiple counts of sexual misconduct, a claim that the former CEO has vigorously denied. When faced with the charges of misconduct Wynn said that it was consensual and accused his ex-wife of leading a campaign of vindictiveness against him.

After the Wall Street Journal first reported these claims, Wynn quit as CEO at Wynn Resorts.

However, the gaming board are unhappy that Wynn did not bother turning up at the misconduct hearing, which took place last September. They believe that his failure to attend prevented them from being properly able to complete their investigation.

Massachusetts regulators fined the new CEO $500,000 for his part in failing to report the allegations, and also fined the company a record sum of $35 million.

Nevada regulators followed the example set by Massachusetts, fining the company $20 million for similar reasons. It did however allow it to retain its casino licence.

Failure to respond 

The regulators weren’t focused on the content of the charges being brought against Wynn originally but the transparency. In both cases the regulators found that there was a lack of honesty in reporting the allegations as well as a failure to follow internal procedures for sexual harassment.

During the investigation, the body also discovered that while in the process of applying for a Nevada gaming licence the company paid off a female ex-employee who claimed that she fell pregnant after being raped by Wynn. A sum of $7.5 million was paid out in hush money.

Three other complaints from massage therapists for the company were also uncovered. Wynn Resorts were made aware of all of the complaints but failed to follow due process in any.

In submitted a complaint to the Gaming Commission the regulator said it had uncovered a pattern of reckless behaviour by Mr Wynn and said that he continued to pose a threat.