Casino Gambling Regulators In Macau, Las Vegas To Look At Steve WynnSexual Misconduct Allegations Spur Regulatory Reviews |
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An explosive Wall Street Journal report that detailed horrific sexual misconduct allegations against Las Vegas casino mogul Steve Wynn continues to send shock waves through the gambling industry.
Per reporting from Associated Press, casino regulators in both Las Vegas and Macau say they will look into the scandal. Regulators in Massachusetts already indicated they will review Wynn’s Boston-area casino project.
Wynn Macau said that it plans to “fully cooperate with any requests” with the regulatory investigation. Macau’s gambling regulator came out and said that “relevant regulations will be strictly enforced,” in reference to the allegations.
Wynn the company owns two casinos in Macau, the world’s largest gambling hub.
Over in Nevada, where the company’s flagship Wynn Las Vegas sits, regulators with the Nevada Gaming Control Board plan to probe Wynn in the wake of the allegations.
“After completing our review, the Nevada Gaming Control Board is conducting an investigation with regard to the allegations of sexual misconduct involving Steve Wynn,” Board Chairwoman Becky Harris said in a statement. “The Nevada Gaming Control Board will conduct its investigation in a thorough and judicious manner.”
Wynn reportedly could face a seven-figure fine and revocation of his gaming license. The Journal report sent shares of Wynn Resorts tumbling. They were down as much as 20 percent after the report before recovering slightly.
Wynn Resorts is also conducting an independent investigation. Wynn has denied the allegations.
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