Topline
Billionaire casino mogul Steve Wynn agreed to a $10 million settlement with the Nevada Gaming Commission on Thursday, ending a yearslong case over sexual misconduct allegations and agreed to cut ties with the industry that bears his name.
Casino mogul Steve Wynn settled a sexual misconduct case for $10 million on Thursday.
Key Facts
The commission accepted the settlement on Thursday with Wynn, 81, who had acknowledged earlier this month he had been accused of “failure to exercise discretion and sound judgment to prevent incidents” that “reflected negatively on the reputation of the gaming industry and the State of Nevada.”
Key Background
Wynn, who developed iconic Las Vegas hotels, including the Mirage, Bellagio, Treasure Island and Wynn Las Vegas, resigned as chairman and CEO of his company, Wynn Resorts, over sexual misconduct allegations in 2018, but denied committing any wrongdoing, saying he chose to step down due to an “avalanche of negative publicity.” According to a complaint filed in 2019 by the Nevada Gaming Control Board, Wynn “repeatedly violated” the state’s gaming regulations while he was head of Wynn Resorts, when multiple female employees alleged Wynn forced them into non-consensual sexual activity.
Forbes Valuation
We estimate Wynn’s net worth at $3.2 billion, making him the 971st richest person in the world, according to Forbes’ real-time net worth calculator.
Further Reading
Casino mogul Steve Wynn fined $10M to end Nevada fight over claims of workplace sexual misconduct (Associated Press)
Source: https://www.forbes.com/sites/brianbushard/2023/07/27/billionaire-casino-mogul-steve-wynn-settles-for-10-million-over-sexual-misconduct-and-is-banned-from-gaming-industry/