The Nevada Gaming Commission issued a record $20 million fine Tuesday to Wynn Resorts Ltd. after it was discovered the company failed to investigate sexual misconduct claims made against former CEO Steve Wynn.
According to The Associated Press, the investigation was launched following a report from The Wall Street Journal that claimed Wynn sexually assaulted or harassed several women while he was serving as board chairman for the hotel giant.
Wynn resigned from the company in February 2018. As a result of the findings, Wynn Resorts admitted that several former board members and executives were informed of the accusations against the former CEO but failed to investigate complaints.
“The company’s initial response during this period was driven by Mr. Wynn’s adamant denial of all allegations,” Wynn spokesman Michael Weaver told The AP. It admitted a “short-sighted focus on initially defending Mr. Wynn, rather than reassuring employees of the company’s commitment to a safe and respectful work environment.”
As part of the settlement reached between the Nevada Gaming Commission and Wynn Resorts, the resort company will keep its gambling license as long as it pays the $20 million fine levied by the four current commissioners.
Wynn has been working for the last year to change the culture of the company, making wholesale changes in the boardroom and executive offices as a result of the public allegations. The company also implemented a new sexual harassment prevention training and added a women’s leadership council to promote equality in the workplace.
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