Wynn Resorts to hear Nevada Gaming Commission penalty today
The casino company admitted fault in conjunction with Steve Wynn’s sexual misconduct
Wynn Resorts recently acknowledged to the Nevada Gambling Control Board that it had been culpable in not doing more to control the sexual proclivities of its founder and former CEO, Steve Wynn. In acknowledging that guilt, it was prepared to accept penalties from the Nevada Gaming Commission (NGC), and the commission is reportedly going to determine what those penalties will be during a meeting to be held today.
The meeting is a regular meeting of the NGC that has on its agenda the Wynn case. The four-person board has certainly already come to a conclusion and will make its announcement during the meeting. While it has already been released that Wynn will be able to retain its license to operate in the state, it is looking at a severe financial penalty related to its negligence.
Attending the meeting will be the two highest-ranking Wynn officials. CEO Matt Maddox, who jumped in after Steve Wynn resigned, will be present, as will Phil Satre, the chairman of the Wynn board.
Some are hoping that Wynn will receive a substantial penalty – the days of the “good ol’ boys” club are over and companies need to be held accountable for the actions of their representatives. The highest fine every levied against a company by the NGC was the $5.5-million penalty it assessed against Cantor G&W Holdings (now CG Technology) in 2014. Perhaps the Wynn penalty will rival that amount.
Wynn Resorts isn’t done with the Steve Wynn saga yet, either. It still faces a number of other lawsuits in several jurisdictions and could be forced to pay even more money to try and set everything straight.