Massachusetts Gaming Commission investigators are on track to complete their probe into disgraced casino mogul Steve Wynn and Wynn Resorts by the end of August, Stephen Crosby, Chairman of the gambling regulator told Thursday local news outlet the Boston Herald.
Mr. Crosby said that they are targeting the end of next month but will be more specific with their schedule within the next week or two. Wynn Resorts is currently building the Encore Boston Harbor (previously Wynn Boston Harbor) luxury integrated resort on the Everett waterfront near Boston. The $2-billion-plus property is slated to open doors next year to become Massachusetts’ second commercial casino resort under the state’s new gambling law.
The Wall Street Journal published this past January a comprehensive report detailing multiple sexual harassment allegations against former Wynn Resorts CEO and Chairman Steve Wynn. A number of former and current employees of the major gaming and hospitality company said they had been victims of the disgraced businessman’s sexual misconduct. According to the Wall Street Journal’s report, in one particular instance, Mr. Wynn had paid a $7.5 million settlement to a former manicurist to settle sexual misconduct and harassment claims against him.
Following the publication of the story, gaming regulators in Nevada, Macau, and Massachusetts opened investigations into the former casino boss and the company he founded. Mr. Wynn was ousted from the company’s board and Matt Maddox, who has been President of Wynn Resort since 2013, replaced the billionaire businessman as CEO of Wynn Resorts.
Ongoing Investigation
Mr. Crosby said yesterday that several investigators are in Las Vegas to probe into the matter more thoroughly and that this might be one of their last rounds to Wynn Resorts’ hometown as part of the ongoing investigation.
The team of investigators is looking into the allegations against Mr. Wynn as well as whether Wynn Resorts was aware of the alleged multiple instances of sexual misconduct and sexual harassment of company staff members.
The team tasked with probing into the matter is expected to compile and present a report with its findings before the five-member Massachusetts Gaming Commission. It is yet to be announced when exactly the report will be introduced.
A spokesperson for the gaming regulator declined to provide details about what investigators have been doing in Las Vegas and other specifics related to the investigation.
Aside from the ongoing regulatory probes, Wynn Resorts is, too, carrying out its own investigation into the issue. A Special Committee of independent board members has been assembled to collect information about the multiple incidents involving Mr. Wynn and former and current employees of the gaming and hospitality company. It is understood that the Special Committee anticipates to complete its own probe by the end of this year’s third quarter.
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