When the allegations of sexual misconduct broke involving Steve Wynn of Wynn Resorts, the gaming company fell under major scrutiny in both Nevada and Massachusetts. The Nevada Gaming Control Board began a review of the company and decided to hand down a $20m fine on the company for the conduct of the founder of the brand. Now, the Massachusetts Gaming Commission has completed their investigation, fining Wynn Resorts $35m.
An investigation has been ongoing in Massachusetts to determine the company’s knowledge of the sexual misconduct allegations as well as how they handled the situation. The result is a $35m fine against the company. The Commission was considering the termination of a gaming license in the state for the Wynn Everett casino. However, the brand will be allowed to keep their gaming license.
An additional fine was placed against the company’s current CEO Matt Maddox of $500,000. The fines are quite high, especially if you consider that they have to pay Nevada as well. However, the end goal for the company was to be able to keep the license for the Encore Boston Harbor casino, a property that has cost Wynn Resorts $2.6b to create.
The casino has been scheduled to open this June for quite some time and the decision by the Commission kind of left the property in limbo. Before the decision as made, there was doubt as to whether or not the casino would be allowed to open. The venue is set to be a benefit to the local economy, ready to employ around 5,800 individuals and generate hundreds of millions in tax dollars for Massachusetts.
In the report by the Commission, it stated that they were troubled by the systemic failures of Wynn Resorts as well as their pervasive culture of non-disclosure. They did determine that the company took the right steps to handle the wrong decision in the past and were suitable to be able to operate a casino in the state.