Massachusetts Gaming Comm. opens review of Wynn Resorts after WSJ article detailing allegations of sexual misconduct by CEO Steve Wynn; probe comes amid Wynn's construction of Boston Harbor resort and casino, which is the biggest private construction project in state history. pic.twitter.com/gkQfmuJ2WP— CNBC Now (@CNBCnow) January 26, 2018
The Massachusetts Gaming Commission (MGC) is launching a review of Wynn Resorts after a Wall Street Journal report on Friday detailed numerous allegations of sexual misconduct against the company's CEO, Steve Wynn.
CNBC reported Friday that the gaming commission will conduct a "regulatory review" to determine whether Wynn's alleged conduct violates the terms of his company's gaming license in the state or other regulations.
"The suitability and integrity of our gaming licensees is of the utmost importance, and ensuring that suitability is an active and ongoing process," the commission said in a statement reported by CNBC.
"Consequently, the MGC's Investigations and Enforcement Bureau will conduct a regulatory review of this matter to determine the appropriate next steps."
Wynn, who is also the Republican National Committee finance chairman, is the developer of Wynn Boston Harbor, a luxury resort and casino currently under construction.
Wynn is facing allegations of sexual misconduct spanning decades. The Wall Street Journal detailed those allegations in a Friday report, including that Wynn agreed to pay a $7.5 million settlement to a manicurist at one of his resorts, who alleged that the casino mogul pressured her into having sex with him.
Wynn has denied the allegations against him.
“The idea that I ever assaulted any woman is preposterous. We find ourselves in a world where people can make allegations, regardless of the truth, and a person is left with the choice of weathering insulting publicity or engaging in multi-year lawsuits. It is deplorable for anyone to find themselves in this situation,” Wynn said.
After the allegations against Wynn surfaced on Friday, stock prices for Wynn Resorts plummeted.