Wynn Resorts Ltd (WYNN)

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Nevada gambling bosses move to bar Wynn from casino industry
By: Zacks Investment Research | October 15, 2019

LAS VEGAS (AP) — Nevada's gambling regulators have filed a complaint against former casino magnate Steve Wynn that could bar him from ever working in the industry in the state.

The complaint filed Monday by the state's Gaming Control Board lists sexual misconduct allegations that have been lodged against the mogul since January 2018. The complaint asks Nevada's Gaming Commission, which acts on the board's recommendations and has final say on licensing, to fine Wynn and revoke his status as being found suitable to be licensed in the industry.

Gambling licenses are considered a revocable privilege that can be denied or revoked for those who aren't found suitable. Suitability findings can hinge on a background check and any other action deemed "inimical to the public health, safety, morals, good order and general welfare" of Nevada residents or discrediting of the state and its gambling industry.

It's unclear if Wynn had plans to return to the industry after stepping down from his company, Wynn Resorts, in 2018 and selling his company shares.

Wynn has denied all misconduct allegations against him. An email seeking comment from his lawyer L. Lin Wood on Tuesday was not immediately returned.

The move follows a $20 million fine the commission levied on Wynn's former company in February to settle allegations that former executives failed to investigate claims of sexual misconduct against Wynn by female employees.

Gambling regulators in Massachusetts levied a $35 million fine on the company in April but allowed it to keep a casino license for a Boston-area resort.

An investigation by the Nevada gaming control board detailed an allegation that Wynn in 2005 paid $7.5 million to a former salon employee who alleged he raped her and that she became pregnant. The investigation also said a former cocktail server alleged that Wynn pressured her into a nonconsensual sexual relationship from 2005 to 2006 that resulted in the woman and her parents receiving a $975,000 private settlement.

The Las Vegas Review Journal reports that the gaming commission will serve the complaint on Wynn, who will have 15 days to respond.

The Gaming Control Board's complaint was first reported Monday night by the Nevada Independent.

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