Vegas Billionaire Steve Wynn Faces Sexual Misconduct Allegations
*Whispers Turned into Chatter
*The Wall Street Journal blew the lid off a controversy that caught the headlines and the market alike. Over 150 former staffers and colleagues have raised eyebrows, claiming that Steve Wynn—known for rolling out lavish casinos across the globe—has allegedly coerced employees into sexual acts for years.
The story’s fallout? Wynn’s shares fell 7.8 % in a single day, a first-time shake‑up when an entire publicly‑owned company’s top boss comes under fire for sexual misconduct.
Wynn’s Spin (and a Dish‑on‑Dinner Claim)
*Wynn sweeps the accusations under the rug, calling them “preposterous.” He pointed fingers at his ex‑wife, Elaine, accusing her of turning the dip‑and‑dish approach into a “terrible and nasty lawsuit” to get a fresh divorce settlement.
“People can launch allegations regardless of the truth,” he said, but warned that the pressure only comes from a need to weather “insulting publicity” or “multi‑year lawsuits.”
Key Allegations List
*- A married manicurist says Wynn threatened her into sex right after the 2005 opening of his flagship Las Vegas casino, and later paid a $7.5 million settlement.
- A former massage therapist reported being asked to provide manual stimulation during client sessions, feeling compelled because he was her boss.
- Another worker says Wynn rubbed his genitals, talked about sex with her, and even grabbed her waist to push a kiss.
Wynn’s Empire is Not Just Casinos
*Turning out the joys of the gambling world, the 75‑year‑old also sits on the Republican National Committee’s finance board and owns casinos in Macau.
With 23,000 employees worldwide, the firm blasts the accusations as groundless, telling reporters that no single complaint has ever appeared on the company’s anonymous hotline.
“We require annual anti‑harassment training and an independent hotline for any employee—no fear of retaliation,” the company’s statement reads.
First‑Hand Stories Tell a Different Tale
*An employee reflects on the pressure: “Knowing how powerful Wynn was, combined with the fact that these were some of the highest paying jobs in Vegas, created a feeling of dependence. When he made requests, I felt forced to comply.”
Why It Matters
*This isn’t just a scandal; it’s a turning point. An entire publicly held company’s CEO gets named in the US sexual‑harassment conversation—and his celebrity status (once a political rival of then‑President Trump) further fuels the buzz.
What to Watch For
*- Potential legal outcomes, including lawsuits and settlements.
- Impact on stock prices across Wynn Resorts and related holdings.
- Future corporate policies on harassment and employee protections.
Takeaway: The High Stakes of Power and Responsibility
*In a glittering city of flash and fortune, it’s a stark reminder that even the big names must endure the court of workplaces. As the dust settles, the real question is: Can the casino mogul rise above the allegations, or will the sands of justice reveal a different story?
