Wynn Resorts under public pressure to change name amid CEO sexual misconduct allegations
Steve Wynn steps down amid sexual misconduct allegations
FBN’s Cheryl Casone on Steve Wynn resigning as chairman and CEO of Wynn Resorts.
Las Vegas’ Wynn Resorts is under public pressure to change its name amid lingering sexual misconduct allegations against founder and former chief executive officer, Steve Wynn.
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Insider Scott Roeben, of Vital Vegas, tweeted about the claims this week: "Intriguing rumblings about potential Wynn name change. Issue was raised after scandal, but sounds like it could be on the table again, sparked by Nevada Gaming Control Board actions."
An exhaustive investigative report first published in The Wall Street Journal last year, portrayed Wynn, who has a net worth of more than $3 billion according to Forbes, as frequently demanding naked massages and other sexual acts from female employees.
Wynn Resorts did not immediately respond to a request for comment from FOX Business, but said in a report to Casino.org casino that it “has no plans to change its name.”
The NGCB filed a five-count complaint, which demanded a $20 million fine, against Wynn last month because the alleged misconduct violated state licensing suitability regulations.
An attorney for the mogul, however, countered with a 25-page motion to dismiss the complaint saying the board no longer has jurisdiction over Wynn, who stepped down as the casino’s head in February last year after denying wrongdoing.
“Has the Nevada Legislature expressly or implied authorized Nevada’s gaming regulators to discipline a person who no longer has any involvement with a Nevada gaming licensee and, thus, no longer poses an alleged threat to the industry or the public at large?” the motion states. “We submit the answer to that question is a resounding ‘No.' ”
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Wynn Resorts brought in a whopping $740 million in revenue last year, internal data shows. Its stock is up more than 11 percent on the year and 22 percent year-to-date.
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