The court settled the issue regarding charges of Steve Wynn

The court settled the issue regarding charges of Steve Wynn

Wynn Resorts Ltd US casino operator and the Nevada Gambling Control Board (NGCB) reached an agreement regarding the investigation which regulator conducted in connection with the charges of founder, former chairman and executive director of the company Steve Wynn in sexual harassment.

As part of the settlement, Wynn Resorts agreed to pay a fine in an amount that remains to be determined, as reported by the regulator.

In a report published on Monday, January 28, the NGCB detailed a number of allegations of Wynn’s misconduct that had lasted since 2005. In addition, as set by the regulator, Wynn Resorts employees knew about this, but could not counteract the actions of the CEO.

NGCB is one of the regulators of the gambling business in the US state of Nevada, where the country's main gambling center, Las Vegas, is located. Along with the Nevada Gaming Commission, he manages the state's casino industry.

Completing the NGCB investigation into the response of some employees to allegations against our founder and previous CEO, Steve Wynn, is an important corrective step. We collaborated with the investigation. Upon learning of the severity of the allegations, the new Wynn Resorts management took immediate steps to ensure an open and safe working environment for all employees and made drastic changes at every level of key decisions in the company,” - representatives of Wynn Resorts said in a press release.

The Nevada gambling industry regulator began asking specific questions about Steve Wynn and Wynn Resorts after he was charged with sexual harassment in the media last January. As a result, Wynn left the company, however, all the allegations denied.

Wynn Resorts stated in its press release that all employees who were aware of the situation and did not report it to anyone were dismissed from the company.

Carlo Santarelli, an analyst at Deutsche Bank Securities Inc, commented: “We do not believe that the fine will be excessively burdensome for the company, and we note that the largest in the history of the commission was a fine of $5.5 million paid by Cantor Gaming, risk management director which pleaded guilty to conspiracy related to illegal sports betting in 2014”.

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