Casinos mogul Steve Wynn faces accusations of harassment.
One well-known figure in the US casino industry, Steve Wynn, has been confronted with sexual harassment allegations for the past week. Numerous female employees accuse the casino mogul of harassing and pressuring them. Wynn has denied these claims.
Last Friday, doubts began to surface about the "casino king," Steve Wynn. The Wall Street Journal published a detailed report in which many female former employees, claiming to have faced sexual harassment and coercion by Wynn, made their voices heard. These incidents date back several decades.
Since the 1970s, Wynn has managed casinos in Las Vegas, including renowned establishments like the Golden Nugget, Mirage, and Bellagio. Currently, the 76-year-old American runs his own company, Wynn Resorts, which operates many luxury casino and hotel complexes in Las Vegas and Macau. However, it is uncertain whether Wynn can maintain his position at the head of his company. After the allegations surfaced, Wynn Resorts saw a 20% drop in its stock market value. The prospect of a new building near Boston may also be jeopardized due to the CEO's turbulent situation. The company has already distanced itself from Wynn, and an emergency meeting was held to form a committee to investigate the incidents. The safety and wellbeing of employees are among the company's top priorities.
Following the Wall Street Journal report, questions are being raised about the procedures at Wynn Resorts. Several victims of the assaults admitted to reporting the incidents to the HR department and colleagues. However, little or nothing was done about them. The fear of retaliation from the billionaire was likely too great for most victims, and many were too afraid to talk to the journalists for fear of experiencing professional consequences given Wynn's considerable influence in Las Vegas. Only one case has come to light, where a victim did receive compensation. In 2005, Wynn allegedly raped a nail technician working for him in his office. The casino mogul purportedly settled the legal matter with the woman and paid her $7.5 million.
Stepping Down from Politics
Wynn had previously surrendered a different position. Since January 2017, he had been the treasurer of the Republican Party. He did so at the request of his friend, Donald Trump, to prevent the distraction caused by the allegations against him. However, Wynn ignored the allegations as "absurd." He believes they are the result of a smear campaign organized by his ex-wife, with whom he is embroiled in legal battles. In response to the article, Wynn initially launched a counteroffensive:
"We live in a world where people can make allegations without considering the truth, and a person's only choice is to endure defamation or face years of legal proceedings." Steve Wynn, CEO of Wynn Resorts
But the allegations could potentially end the casino magnate's career. The Availability of public support has led to prompt reactions from companies in response to allegations of sexual exploitation perpetrated by powerful men. Similar to Weinstein, the influence of the film producer might have protected him from consequences for years. The victims' accounts have inspired a wave of public solidarity. Many other victims of sexual misconduct began sharing their experiences on social networks under the hashtag #MeToo. Consequently, several high-profile filmmakers have lost their positions. The Weinstein Company severed ties with its namesake. Steve Wynn may also face a similar fate, and the large number of people affected might make the situation more serious. Wynn Resorts is likely to part ways with its founder out of a desire for damage control.
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Source: www.onlinecasinosdeutschland.com
