Casino mogul Steve Wynn has agreed to a $10 million fine and to cut his links with the gaming industry in Las Vegas over alleged sexual misconduct which came to light over five years ago.
According to reports, Wynn on July 17th signed an agreement to end the allegations, acknowledging that he was accused of “failure to exercise discretion and sound judgement” and avoid actions that would reflect “negatively on the reputation” of the Nevada state and its gaming operations.
The billionaire, however, has admitted no wrongdoing in the case, with the settlement merely aimed at closing out the proceedings which have dragged on for years since the initial accusations surfaced.
The fine follows a similar settlement, of $20 million, with Nevada state gaming regulators, due to the company’s failure to investigate the claims against Wynn.
It also dovetails a similar fine issued in 2019 by authorities in the US state of Massachusetts over failure to disclose the sexual misconduct allegations.
Wynn sold his stake in Wynn Resorts in 2018 after resigning in the wake of the Wall Street Journal article that highlighted his alleged misconduct.
He currently resides in Florida and has stayed out of the public eye since the allegations surfaced.