Wynn Resorts hid Steve Wynn's harassment claims -probe
Wynn Resorts is in hot water with Massachusetts gaming regulators.
That state's gaming commission released an investigative report Tuesday concluding the casino conglomerate hid decades of sexual harassment allegations against its billionaire founder Steve Wynn.
The report kicks off a three-day hearing which could determine if Wynn Resorts gets to keep a state gaming license needed to run the $2.6 billion casino set to open in June.
Steve Wynn was forced out of his company last year after the Wall Street Journal detailed allegations of his misconduct, making him one of the highest profile CEOs to lose their jobs during the #MeTooMovement.
Wynn has called those allegations "preposterous." The casino has already been slapped with a $20 million fine by the Nevada casino regulator for trying to cover up Wynn's alleged misdeeds.
Shares of Wynn Resorts have lost a 1/3 of their value over the past year.
The $35 million fine levied against the owners of the new Encore Casino in Everett by the Massachusetts Gaming Commission for their handling of the Steve Wynn scandal dwarfed the $20 million punishment..
On Tuesday Massachusetts gaming regulators said that Wynn Resorts can retain its gaming license needed to run a $2.6 billion casino built outside of Boston with a fine and license conditions. Reuters..