Wynn fallout reaches Macau, panel to investigate claims

Monday 29th of January 2018

Macau’s gaming regulator has expressed concern regarding recent accusations against Wynn Resorts CEO Steve Wynn, according to reports.

Representatives from the Gaming Inspection and Coordination Bureau reportedly met with top executives from Wynn Macau in order to “understand the situation”, before releasing a statement on the matter.

“The Gaming Inspection and Coordination Bureau expresses concerns over reports some days ago that Steve Wynn, chairman and chief executive of Wynn Resorts (Macau) might have been involved in inappropriate behaviours in the US. The bureau had a meeting with the Wynn Resorts (Macau) management today to learn more about this,” the statement read, reports South China Morning Post.

“The bureau reiterates that the Macau SAR is concerned about the eligibility of the casino gaming concessionaires’ major shareholders and directors and the principal employees in casinos, and the requirements will be strictly enforced,” it added.

Investigations to follow

Wynn Resorts announced on Tuesday that it had formed a special committee to investigate the allegations put forth by the Wall Street Journal.

In a SEC filing, the company noted that the committee is chaired by Ms. Patricia Mulroy, a member of the Board’s Corporate Governance and Compliance Committees and a former member of the Nevada Gaming Commission.

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