GGRAsia – Steve Wynn to pay US$10mln over sexual misconduct claims

Steve Wynn to pay US$10mln over sexual misconduct claims

Jul 28, 2023 Newsdesk Latest News, Top of the deck, World

Former casino entrepreneur Steve Wynn (pictured in a file photo) is set to pay US$10 million to end a legal battle with gambling regulators in Nevada, the United States, that started with claims of his alleged sexual misconduct in the workplace.

Mr Wynn is the founder and former chairman of U.S. casino operator Wynn Resorts Ltd, parent of Wynn Macau Ltd. He left the group in February 2018, after multiple allegations of sexual harassment and assault made by female staff in the Las Vegas, Nevada operation.

The Nevada Gaming Commission accepted a settlement on Thursday to end the state’s look at allegations against Mr Wynn, reported the Associated Press. Mr Wynn did not admit any wrongdoing.

In the settlement Mr Wynn agreed to all but cut ties with the gaming industry in that U.S. state. Under the terms of deal, he can retain a 5-percent passive ownership in a publicly-owned firm active in Nevada.

The businessman also acknowledged in the document that he had been accused of “failure to exercise discretion and sound judgment” to prevent actions that “reflected negatively on the reputation” of Nevada and its gambling industry, stated the Associated Press.

According to the news outlet, Mr Wynn’s attorney, Colby Williams, said the case was the final regulatory matter that the entrepreneur faced stemming from the allegations five years ago.

In February 2019, Wynn Resorts agreed to pay US$20 million to the Nevada gaming regulators, after an investigation found the firm had failed to investigate the sexual misconduct claims made against Mr Wynn. In November that year, Wynn Resorts said that Mr Wynn was to pay US$20 million to the company as part of a settlement in a “consolidated derivative lawsuit”.