Steve Wynn Settles for $10M, Exits Nevada Gaming Amidst Abuse Claims

Steve Wynn has reached an agreement to pay a settlement of $10 million and permanently disassociate himself from the gaming industry in Nevada, concluding a lengthy legal dispute spanning four years. The case revolves around accusations of sexual abuse against the 80-year-old former CEO of Wynn Resorts.

The legal feud against Wynn was initiated in 2019 by the Nevada Gaming Control Board (NGC), which lodged a five-count complaint challenging his eligibility to hold a gaming license. The NGC expressly referred to "accusations of sexual abuse and inappropriate behavior involving female staff members during his tenure as the chairman and CEO of Wynn Resorts."

Wynn, who was also confronted with a federal lawsuit over alleged China-related lobbying, will still be allowed passive ownership of less than 5% of licensed gaming enterprises. However, he is prohibited from obtaining a Nevada gaming license or participating on the board of any gaming company in Nevada.

Pending the NGC's anticipated acceptance of the settlement, this will formally conclude the dispute that became public in 2018 when Wynn proactively filed a lawsuit against the NGC to prevent the organization from making public the allegations of sexual misconduct against him.

Although Wynn steadfastly denied all allegations, he has opted out of a public hearing by opting for the settlement agreement.