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Wynn Resorts hit with record fines to ignore Steve Wynn's offenses



On Tuesday, the Nevada Gaming Commission stated that the beech, the largest ever imposed, is part of a settlement with Wynn Resorts ( WYNN ) in response to a complain the commission granted to the company last month.

The billionaire casino mogul denied allegations of neglect, but said "avalanche of negative publicity" made it impossible for him to continue as CEO and head of the company.

The settlement with the gaming commission is the last attempt by Wynn Resorts to deal with the fallout from the scandal, which hammered the stock price and shook the lead. The company's share has fallen 35% since Journal published its survey.

Game Commission Complaint Against Wynn Resorts Detailed Multiple Cases in which Leading Company Employees were made aware of allegations by employees of sexual misconception against Wynn, but failed to investigate or address them.

In the settlement with the commission, Wynn Resorts admitted that it "fell short … of perhaps one of the most important areas for an employer ̵

1; focusing on its employees."

Wynn leaders "have focused on a single man, instead of the company's largest asset, its 25,000 employees," it added.

The signatures of the settlement document, which was published by the Game Commission on Tuesday, included Matt Maddox, who replaced Wynn as the CEO of the company.

Wynn Resorts emphasized the series of changes it has made since Wynn declined, such as overhaul of board membership to include three new female directors and the introduction of improved training for all employees intending to prevent sexual harassment.

Wynn Resorts did not immediately respond to a request for further comment outside of regular office hours. 19659004] During the settlement, the gaming commission said that it will not seek to revoke the company's licenses.

Chris Boyette and Jethro Mullen contributed to this report.


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