Dozens of people have recounted a pattern of sexual misconduct by Las Vegas mogul Steve Wynn, according to a report from the Wall Street Journal.
Employees of Wynn Resorts, as well as others who have had contact with Wynn, told the paper the CEO sexualized his workplaces and pressured staff to perform sexual acts. Wynn, however, has firmly refuted the accusations, telling the Wall Street Journal that “The idea that I ever assaulted any woman is preposterous.”
Wynn is the chairman and chief executive of Wynn Resorts, Ltd. His brand includes some of the most famous casinos in Las Vegas, including The Mirage and Bellagio. He is also responsible for Wynn Macau and Wynn Palace. Wynn has been credited with helping to peform Las Vegas and Macau from less than reputable gambling dens to destinations that are sought after and enjoyed by luxury class big spenders.
Wynn Refutes Accusations
In the wake of the accusations, Wynn has also called on his employees to rally around him. According to reports, he has held a series of meetings in recent days with employees who work in his Las Vegas casinos. The purposes of these meetings has been urge employees to support him in the face of these allegations.
According to more reporting from the Wall Street Journal, Wynn did not directly address the allegations. He did, however, tell his employees that he considers his staff to be a “family.”
Impact on Wynn
Even though Wynn is denying the allegations, the entire thing has still had a negative effect on his business empire. Wynn has long enjoyed vast businesses success, with news reports noting that even his fiercest rivals have credited him with being a visionary, as well as a perfectionist.
This scandal, however, has the potential to result in Wynn losing control of his empire. In the wake of the investigation published by the Wall Street Journal, the board of Wynn Resorts has announced an inquiry by a special committee.
So far, Wynn has resigned his position as finance chairman of the Republican National Committee. The Republican Party is the one that President Donald Trump belongs to.
Meanwhile, the gaming commissions in Nevada, Macau and Massachusetts are conducting their own inquiries.
Currently, Wynn holds a 12 percent stake in the company that he founded. The market value of Wynn Resorts has also more than doubled in just under a year, rising to $20 billion. However, since the report came out that value has fallen by as much as 15 percent.
The following projects are currently underway by Wynn Hotels: