Nevada Gaming Commission to Decide on Wynn Penalty

The Nevada Gaming Commission, which is Nevada state’s governmental agency involved in the regulation of casinos throughout the state along with the Nevada Gaming Control Board…

…will have to make the final decision about the way it will penalize Wynn Resorts.

The famous gambling resorts were sued for being involved in Steve Wynn’s sexual misconduct scandal that was revealed at the very beginning of 2018.

So, the Gaming Commission will set up a meeting where the representatives will discuss the type of levy that will be issued against Wynn. The decision will be revealed a few days after the meeting.

Complaint Against Wynn Resorts

Why was the entire company sued for something their CEO did? Well, because according to the 22-page complaint against Wynn Resorts…

…the company executives have been told at least seven times of Steve Wynn’s actions but did nothing to prevent them.

As Nevada Gaming Control Board announced, the settlement will be made and Wynn Resorts has agreed to pay a fine in order to be able to retain its license. The amount is still unknown and will be established after the meeting of Nevada’s regulatory body.

Two Wynn Resorts will be present during the meeting of the Nevada Gaming Control Board. CEO, Matt Maddox, who stepped in when Steve resigned will attend the meeting, together with Phil Satre, the company’s chairman of the board.

The Drama Continues

Although Steve resigned from his position as CEO in February 2018, he and Wynn Resorts had to deal with many problems to keep the company from falling apart.

Wynn Resorts Executive, Maurice Wooden, also decided to step down from his position back in December 2018…

…because he was also accused of “enabling alleged sexual misconduct by the former CEO Steve Wynn,” as was stated in the official report.

Wooden was replaced by Marilyn Spiegel, who worked on the board of directors at Caesars Entertainment.

“I am very pleased that Marilyn will return to lead the team at Wynn Las Vegas and Encore. Our company’s legendary service and guest experiences call for someone who truly understands our brand and appreciates what it means to our guests and employees.

Marilyn not only shares that understanding, she helped to create it. Her deep experience in human resources and knowledge of what it takes to deliver the Wynn promise, make her the ideal person to lead Wynn Las Vegas into the future,” Maddox stated.

More Lawsuits for Wynn

But, this is not the end of problems for Wynn Resorts. The state of Massachusetts is waiting to address the company, while a separate investigation against them is active in Macau.

The shareholders actually sued Wynn Resorts for failing in reacting against Steve Wynn’s misconduct…

…and said that the way the company agreed to pay the penalty to Nevada is proof of culpability.

Also, another case for a potential lawsuit is developing in Massachusetts, because a Wynn competitor complained over the way the company got the license to build the Boston Harbor casino.

Source:

“Nevada Gaming Commission to decide on Wynn Resorts penalty”, Erik Gibbs, calvinayre.com, February 26, 2019.