Saturday, June 25, 2022

Wynn fined $35.5 million by Massachusetts gaming regulator


Wynn Resorts has been fined $35 million for not disclosing sexual misconduct allegations against founder and former CEO Steve Wynn by Massachusetts gaming regulators but has been allowed to retain the license for Encore Boston Harbor in Everett, Massachusetts, which opens in June.

The fines levied on Tuesday are the largest ever penalty by a state gambling regulatory agency, and follows the commission’s investigative report earlier in April that found that former executives of Wynn Resorts concealed sexual misconduct allegations against Steve Wynn.

However, the commission said there was not enough evidence to revoke Wynn Resorts’ gaming license.

As well as the $35 million fine on Wynn Resorts, a further $500,000 fine has been given to chief executive officer Matthew Maddox.

There are also license conditions to be imposed, including an independent monitor to oversee the company’s adherence to policies and organizational changes.

Wynn Resorts says it is considering its legal options.

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