Nevada regulators are not buying Steve Wynn’s immunity claims. The casino icon had claimed that the regulators had no power to punish him and now he is receiving full feedback from the board.
According to Wynn’s attorneys, the Nevada Gaming Control Board (GCB) is not in any position to enforce any financial penalty on the disgraced casino icon. The attorneys also pointed out that the board could not revoke Wynn’s gaming license based on his sexual harassment allegations.
Wynn had allegedly sexually harassed female staffs at his founded company, Wynn’s Las Vegas properties. The casino owner is facing multiple allegations (that are decade-long) by female staffs whom he had sexually harassed.
Most of the females who came out were masseuses who were forced into compromising situations by Steve. While some had reported the human rights department and not assisted, most of the victims had been unable to come forward fearing the casino icon’s huge influence in Nevada.
According to calvinayre.com, following these allegations, the casino king was forced into resigning in February 2018. He also sold his Wynn Resorts shares as a result thus his attorneys are claiming that the regulators have no jurisdiction over his actions any more.
However, the GCB insists on its authority over the fallen casino king by rejecting his motives of dismissing the complaint filed against him. The complaint had been filed in October.
Nevada regulators declared that Steve’s disengagement did not in away alter its full and absolute authority. The GCB was still in position to impose sanctions on Wynn for portraying Nevada’s gaming sector negatively.
GCB further pointed out that no gaming regulation supported his claims that he was now free from its authority. The fact that he had left Wynn Resorts did not change anything at all.
The state’s regulations allow licensed operators to surrender their licenses. However, the commission has to accept the revoked license. If not, the licensee can still be charged fines, taxes, penalties or interest due to the GCB.
Wynn has to respond to the GCB’s filings by December 9th. The hearing before the commission will be on December 19th which is probably the worst way to end the year.
Meanwhile, Wynn Resorts this week announced that it would comply to pay up $21 million from its insurance carriers and $20 million from Steve Wynn as part of lawsuit settlement. The lawsuits were as a result of company shareholders accusing the directors for covering up the former CEO’s alleged misconducts.
The company’s announcement emphasized that Wynn Resorts and its senior executives were free from any wrongdoing. It also pointed out that the settlement included a $49 million credit for making changes at Wynn’s workplace. Since the scandal erupted, the company has improved its workplace practices and added more women to its board of directors.
Steve Wynn has cost the company up to $55 million in penalties charged by Nevada and Massachusetts regulators. The company owns and operates Encore Boston in Massachusetts, Wynn Las Vegas, Wynn Palace and Wynn Macau.