LAS VEGAS (KTNV) — Casino mogul Steve Wynn is agreeing to a settlement with the Nevada Gaming Board.
It's to settle a complaint that was originally filed by the board in October 2019. At the time, state gaming regulators said he should be declared "unfit" to hold a gaming license since his alleged sexual misconduct violated five gaming regulations.
In 2018, the Wall Street Journal published an article alleging Wynn sexually assaulted and harassed several employees over a decade. Wynn has denied all claims of sexual misconduct. He resigned from his role as CEO and the company was forced to pay a $20 million fine for "failing to properly investigate the claims of harassment." At the time, it was the highest fine in state history.
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Wynn previously filed a motion to dismiss the complaint saying he was already out of the industry and the board no longer had jurisdiction.
According to the settlement, which was filed on Wednesday, Wynn would neither admit or deny the allegations set forth in the complaint and has waived the right to a public hearing on the charges and allegations that were presented in the complaint.
Wynn would also pay a $10 million fine and agree to stay out of the Nevada gaming industry, which would include not serving as an officer or executive with a Nevada gaming company. However, the settlement states he would be allowed to be a "passive owner" of publicly traded corporations registered with the gaming commission as long as it was 5% or less.
The document was signed by both Wynn and Kirk Hendrick, chair of the Nevada Gaming Control Board, on Monday.
The matter now moves to the Nevada Gaming Commission, which could sign off on the settlement as soon as next week.
