Casino Mogul Steve Wynn Settles Sexual Misconduct Claims for $10 Million, Agrees to Cut Ties with Gaming Industry

Overview

• Wynn will pay a $10 million fine and sever ties with the Las Vegas casino industry to settle claims of workplace sexual misconduct.
• The Nevada Gaming Commission approved the settlement agreement in a 4-0 vote, with Wynn not attending the hearing.
• The $10 million fine is the largest ever imposed by the commission on an individual.
• Under the settlement terms, Wynn can maintain only passive ownership of up to 5% in a publicly traded gaming corporation.
• Wynn has denied allegations of sexual harassment and assault but resigned from Wynn Resorts in 2018 amid the allegations.