The Nevada Gaming Control Board has launched a formal investigation into allegations of sexual misconduct made against the founder and chairman-cum-chief executive of casino operator Wynn Resorts Ltd, Steve Wynn (pictured).
“The Nevada Gaming Control Board will conduct its investigation in a thorough and judicious manner,” Becky Harris, chairwoman of the Nevada regulator, said in a Tuesday statement, quoted by several media outlets.
The Nevada Gaming Control Board’s decision to move ahead with a formal probe was made after a preliminary review of the accusations against Mr Wynn, Ms Harris added.
According to the Las Vegas Review-Journal, Mr Wynn could face a fine or ultimately a revocation of Wynn Resorts’ gaming licence if the Gaming Control Board were to find cause for discipline.
The announcement of the enquiry followed an article last week by the Wall Street Journal detailing allegations of sexual misconduct made against Mr Wynn by former Wynn Resorts employees. Mr Wynn has denied the allegations featured in the article.
Wynn Resorts – with gaming operations in Las Vegas, Nevada – is the parent company of Macau-based casino operator Wynn Macau Ltd. Mr Wynn is also chairman and chief executive of Wynn Macau Ltd.
The Macau regulator – the Gaming Inspection and Coordination Bureau, a body also known by its Portuguese acronym DICJ – met on Monday with representatives from Wynn Macau Ltd “better to understand the situation” regarding the allegations against Mr Wynn.
“DICJ reiterates that the Macau government pays attention to the suitability of major shareholders, directors and key employees in high-level positions in the casino industry, and to the strict implementation of the relevant provisions in this field,” the body told GGRAsia following the meeting with the representatives from Wynn Macau Ltd.
The Massachusetts Gaming Commission announced on Friday it would independently investigate the allegations raised in the Wall Street Journal article. Wynn Resorts is developing a casino property in Boston, in the U.S. state of Massachusetts. The Massachusetts regulator is scheduled to meet today (January 31) to discuss the matter.
Wynn Resorts also announced on Friday it would form a special committee consisting solely of independent directors to investigate the claims against Mr Wynn. It will be chaired by Patricia Mulroy, a member of the board’s corporate governance and compliance committees and a former member of the Nevada Gaming Commission.
Feb 16, 2018Due to the Chinese New Year holiday, the GGRAsia team will be off between February 16 and 19. We will be back on February 20. We wish all our readers a prosperous Year of the Dog!
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”A challenge to Macau's economic model could potentially emerge over the longer term should China revise existing criminal laws that prohibit most forms of gambling in the mainland... Even in such a scenario, Fitch would expect this to occur gradually”
Fitch Ratings Inc