Wynn Resorts Limited agrees $35 million Massachusetts fine

In Massachusetts, prominent casino operator, Wynn Resorts Limited, has reportedly agreed to pay a $35 million fine in order to settle an allegation that it had failed to properly disclose a payment its former Chief Executive Officer, Steve Wynn, is said to have made in order to settle an accusation of sexual assault.

License preservation:

According to a Tuesday report from the Las Vegas Review-Journal newspaper, the arrangement with the Massachusetts Gaming Commission means that the casino firm will be able to keep its state gaming license and open its coming Encore Boston Harbor venue on schedule for next month.

Allaying allegations:

This financial penalty is much higher than the record-setting $20 million the operator agreed to pay the Nevada Gaming Commission in February. This fine concerned allegations that the Las Vegas-headquartered firm had similarly failed to a 7BALL dequately investigate multiple sexual misconduct allegations dating back to 2005 that had been levied against 77-year-old Wynn.

Demarcated discipline:

The Las Vegas Review-Journal reported that the fresh 54-page agreement with the Massachusetts Gaming Commission also includes a $500,000 fine for the current Chief Executive Officer for Wynn, Matt Maddox (pictured), alongside an instruction that his firm employ a coach to personally instruct the 44-year-old executive in four key areas. These themes encompass internal and company-wide communication, leadership development and team building and collaboration alongside enhanced sensitivity to issues including sexual assault and harassment, implicit bias, disability, hostile work environments, human trafficking, inherent coercion and domestic violence.

Intensive inquiry:

The decision from the five-member Massachusetts Gaming Commission followed the submission of a 200-page investigation from the state regulator’s Investigations and Enforcement Bureau as well as the receipt early last month of oral testimony from multiple company executives including Maddox. These inquiries had subsequently determined that Wynn Resorts Limited had failed to adequately disclose a payment worth $7.5 million it made to a woman in 2005 to settle claims that its then-boss had forced her to have sex with him.

More:  KBIC gets nod to move forward with Ojibwa casino expansion in U.P.

Imminent opening:

This most recent investigation could have ultimately resulted in Wynn being deemed as unsuitable to hold a Massachusetts gaming license, which would have seen the firm lose out on the ability to open and run its Encore Boston Harbor property. However, the settlement has now opened the way for this $2.6 billion Boston-area venue to begin welcoming players and guests from June 23.