Nevada Massachusetts gaming regulators to conclude Wynn Resorts investigations by end of

first_img RelatedPosts Wynn Resorts shares favored over Wynn Macau: analysts Load More Mass market growth keeps Wynn afloat as Macau revenues rise 1.0% in 2Q19 Two independent investigations into Wynn Resorts and its former Chairman Steve Wynn will be completed by the end of September, the respective gaming regulators have revealed.Nevada’s State Gaming Control Board has told the Las Vegas Review-Journal that its investigation into Wynn Resorts was ongoing but that it expected all work to be complete by the end of the month, Likewise, the Massachusetts Gaming Commission revealed that its investigation was close to completion and that it expected to present its findings at a public meeting “probably in mid-to-late September,” according to Commission Chairman Stephen Crosby. Wynn Resorts to undergo internal restructure as part of refinancing plan Crosby added that it should take only a few days following finalization of its report for the Commission to determine what, if any, actions to take against either Wynn Resorts or Steve Wynn himself. Potential punishments could range from fines to, at their most extreme, the suspension of the company’s gaming licenses – although the latter is highly unlikely.Steve Wynn stepped down from the Wynn Resorts board in February amid allegations of sexual misconduct relating to staff. He later sold off his entire 12.1% stake in the company.Wynn Resorts has since made a raft of changes to its board, including the recent appointment of former Harrah’s boss Phil Satre as its new Chairman starting later this year.The company completed its own internal investigation in early August but has yet to announce any details after handing over its findings to Nevada and Massachusetts regulators.last_img

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