Zona de Azar USA – Steve Wynn Agrees to Effective Ban from Nevada’s Gambling Industry

USA.- July 31, 2023 www.zonadeazar.com Former Wynn Resorts Chief Executive Steve Wynn has agreed to an effective ban from Nevada’s gambling industry in a settlement over his alleged sexual misconduct with former employees.

As well as another hefty fine ($10m) to end the long-running legal battle, the settlement signed on 17 July with the Nevada Gaming Control Board means Mr Wynn has agreed to all but cut ties with the industry in the state.

Under the terms of deal, Mr Wynn can retain a five per cent passive ownership in a publicly-owned firm active in the state.

Mr. Wynn resigned from Wynn Resorts as chief executive in 2018 and sold his stake in his company weeks after the Wall Street Journal alleged a “decades-long pattern of sexual misconduct” including forced sex with a manicurist to whom he later paid a $7.5m settlement.

In 2019, Wynn Resorts agreed to pay $20m to the Nevada Gaming Control Board after an investigation sparked by the article found it had failed to investigate complaints, as well as a further $35m to the Massachusetts Gaming Commission.

In the seven-page document he also acknowledged 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.

Edited by: @Pererarte  www.zonadeazar.com