Wynn Resorts hit with record fine over sexual misconduct scandal
Nevada’s gaming regulator agreed to fine Wynn Resorts a record $20 million for its failure to deal properly with the Steve Wynn sexual harassment scandal.
The company initially ‘turned a blind eye’ to the allegations by eight female employees against the then-CEO, the Nevada Gaming Commission said.
It is several times higher than any previous fine handed down by the commission.
"The fine needs to move the needle. It needs to ring across the entire country, outside of our borders," said Tony Alamo, the commission’s chairman.
The commission cited a failure by Wynn Resorts to effectively govern itself and deal with the allegations with the seriousness it required.
It was ‘a failure of a corporate culture’ at the highest level,’ said commissioner John Moran.
Steve Wynn stood down last year and was replaced as CEO by Matt Maddox.
"The company’s initial response during this period was driven by Mr Wynn’s adamant denial of all allegations," said Wynn Resorts spokesman Michael Weaver.
The company admitted a ‘short-sighted focus on initially defending Mr. Wynn, rather than reassuring employees of the company’s commitment to a safe and respectful work environment.’
"We are pleased that the Nevada Gaming Commission has recognized the company’s transformation and ‘refreshed culture’ over the course of the last twelve months," it added.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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