By Nate Raymond
BOSTON (Reuters) – Massachusetts gaming regulators on Tuesday released an investigative report concluding that executives of Wynn Resorts Ltd concealed sexual misconduct allegations against the casino operator’s billionaire founder, Steve Wynn.
The Massachusetts Gaming Commission released the report at the start of a three-day hearing focused on whether Wynn Resorts remains suitable to retain a license needed to run a $2.6 billion casino it plans to open in June.
The report by the commission’s investigations and enforcement bureau followed a January 2018 article by The Wall Street Journal detailing allegations that the billionaire had engaged in a decades-long pattern of sexual misconduct.
His subsequent resignation as the company’s chief executive made him one of the most prominent corporate executives to lose their jobs amid the #MeToo movement, which has prompted women to share experiences of sexual abuse and harassment.
Wynn, who was the company’s long-time face, has called the accusations “preposterous.” His lawyer had no immediate comment on Tuesday.
The 199-page report will form the basis of the proceedings before the five-member commission, which can impose conditions on the Las Vegas-based company’s license or revoke it entirely.
The commission is not expected to issue a decision for several weeks. Nevada casino regulators have concluded a related investigation into the company that resulted in Wynn Resorts being fined $20 million in February.
In a statement, Wynn Resorts said it cooperated with the Massachusetts inquiry, has taken steps to improve its governance and parted ways with any employee who did not investigate or report allegations against Wynn.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.