Steve Wynn, the former CEO of Wynn Resorts, has come to an agreement in which he will pay a $10 million settlement and no longer be involved in Nevada's gaming industry. This deal comes after a four-year investigation into allegations of sexual abuse against the 80-year-old Wynn has reached a conclusion.
Allegations that female employees have been subjected to sexual abuse and misconduct.
In 2019, the Nevada Gaming Control Board (NGC) began the legal process against Wynn by filing a five-count complaint challenging the business mogul's eligibility to hold a gaming license. The NGC cited accusations of sexual misconduct and abuse of female employees during Wynn's tenure as chairman and CEO of Wynn Resorts.
Wynn is not allowed to hold any Nevada gaming license or serve on the board of a Nevada gaming company, despite a federal lawsuit being filed against him for alleged lobbying of China. He is still able to have passive ownership of less than 5% of any licensed gaming company.
If the NGC (National Gaming Commission) approves the settlement, the conflict that began in 2018 when Wynn submitted a legal action against the NGC to prevent the spread of information about his sexual offenses will be officially concluded.
Despite Wynn consistently denying all the allegations against him, he has chosen to take a settlement, thus forfeiting his right to a public hearing.