Wynn Resorts fined $35M over allegations against Steve Wynn

Nevada gaming board wants to ban casino mogul Steve Wynn
Charles Krupa/AP via CNN
Steve Wynn

Wynn Resorts gets to keep its Massachusetts gaming license, but the state gaming commission is imposing a multi-million dollar fine on the company.

The Massachusetts Gaming Commission said Tuesday that it would impose a $35 million fine on Wynn Resorts and Wynn MA, LLC. The move comes after the commission completed its investigation into sexual assault allegations levied against the company’s founder and former CEO — Steve Wynn — and how the company handled those claims.

Wynn, 77, stepped down in 2018 as the head of the global gambling business after an investigation by The Wall Street Journal reported numerous allegations against him, citing dozens of sources.

The billionaire casino mogul denied the accusations of misconduct but said the ” avalanche of negative publicity ” made it impossible for him to continue as CEO and chairman of the company.

The commission is also fining Wynn CEO Matthew Maddox $500,000, citing his ” clear failure to require an investigation about a specific spa employee complaint brought to his attention, ” among the reasons in the decision.

In addition to the fines levied, the commission said Wynn Resorts must comply with other stipulations — including to maintain a separate Chair and CEO for 15 years.

” Given our findings, it is now in the interest of the Commonwealth that the gaming licensee move forward in establishing and maintaining a successful gaming establishment in Massachusetts, ” the commissioners said in the decision. ” One of the key metrics by which we will measure that success will be the overall well-being, safety, and welfare of the employees. A second but equally important metric is the importance of compliance and communication with the regulator. This penalty is designed to guarantee these practices. ”

Wynn Resorts said in a statement Tuesday that it received a copy of the Massachusetts Gaming Commission’s decision, is reviewing it, and considering its next steps.

Wynn Resorts is set to open Encore Boston Harbor, a 27-floor hotel and casino, in June. The hotel’s website indicates it expects 8 million visitors annually.

Earlier this year, the Nevada Gaming Commission fined Wynn resorts $20 million — the largest it had ever levied — for its repeated failure to respond properly to sexual misconduct allegations against Steve Wynn.