Macau’s Gaming Inspection and Coordination Bureau (DICJ) met with officials for Wynn Macau Ltd. in the wake of sexual harassment allegations involving its founder, Steve Wynn.
Deep Concern Over Shocking Claims
At the meeting, the bureau expressed deep concern over the sexual harassment allegations that have arisen against the businessman. The regulator was looking to “understand the situation,” according to todayonline. Wynn, who is the chairman and CEO for Wynn Macau, has recently made headlines for a string of sexual harassment allegations by various workers.
The women allege the mogul behaved inappropriately with them while they were working in his casinos.
The DICJ, however, is not the only regulatory body taking a deeper look into these allegations. According to the Las-Vegas Review Journal, the Nevada Gaming Control Board plans to launch an investigation into the allegations. Becky Harris, chairwoman of the Nevada Gaming Control Board, said in a statement the board plans to “conduct its investigation in a thorough and judicious manner.”
If it is proven that the allegations against Wynn are true, the board could either impose very costly fines or even revoke Wynn’s license. This depends on what the Nevada Gaming Control Board finds, however, and whether three out of the five board members proceed with a complaint as a result of the findings.
A Slippery Slope of Consequences
Since the allegations against Wynn have become the main headline in some new cycles, a few things have gone downhill for the tycoon, including shares in his company. One article, which was first reported by The Washington Post, described various incidents of Wynn making sexual advances with his then-employees. Just days after the article was published, Wynn Resorts Limited shares plummeted by 10 percent.
This left the company’s shares at $180. The last time Wynn Resorts saw its shares that low, was last July. However, throughout the allegations and declines, Wynn has denied any sexual harassment took place. According to the Washington Post, Wynn said in a statement that it’s “deplorable for that anybody to find themselves in this situation.” He also said it’s “preposterous” that he would ever assault a woman and he “remains focused” on the company’s shareholders and workers.
While Wynn is currently under investigation by a couple of regulatory bodies, the Massachusetts Gaming Commission will also be investigating the allegations against the mogul. A Wynn casino is set to be developed in the Boston area, but the commission will investigate the allegations and proceed to conduct a review of Wynn’s license.
The MassGaming Commission said in a statement it is taking these allegations “very seriously,” and that the “suitability and integrity” of license holders is of the “utmost importance.” Money.cnn.com reported the commission certainly upholds the law. Integrity, reputation, and character are all needed to obtain a license in Massachusetts.
Steve Wynn resigned recently as finance chairman of the Republican National Committee. According to the NY Post, Wynn felt it was time to step down as chairman because he was becoming a “distraction.” In a statement, Wynn said, “The unbelievable success we have achieved must continue,” and that the country is too great of a place to become “impaired” by all that’s going on with him. Wynn, who according to Politico has been a long-time Republican donor, has collectively contributed $2.5 million to various campaigns.
The resignation was accepted by Ronna McDaniel, RNC chairwoman, who, before making the announcement, spoke with President Donald Trump about the allegations surrounding Wynn. Trump then signed the resignation, accepting Wynn’s decision to step down, according to the NY Post.