Wynn Resorts was fined a record $20 million over sexual misconduct allegations.
The penalty against Wynn Resorts Ltd. ends an investigation that began after the Wall Street Journal reported that several women said the company founder assaulted or harassed them.Wynn Resorts will keep its gambling license under the Nevada Gaming Commission settlement reached last month that left the amount of a fine to be determined by the four current commissioners.
Wynn Resorts acknowledged in the settlement agreement that several former board members and executives knew about but failed to investigate complaints including one that led Wynn to pay $7.5 million in 2005 to a former salon employee who“Mr. Wynn engaged in intimate and sexual conduct with [company] employees,” the company acknowledged in settlement documents.
“The company's initial response during this period was driven by Mr. Wynn's adamant denial of all allegations,” said a Wynn Resorts statement provided by company spokesman Michael Weaver. It 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.”
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