Yesterday, the Massachusetts Gaming Commission (MGC) has prepared to launch hearings on whether or not Wynn Resorts is suitable to hold a casino license in the state, reports Calvin Ayre. The process has faced a series of delays as Wynn Resorts, along with founder and former CEO Steve Wynn, have introduced legal measures designed to prevent the release of certain details regarding the sexual misconduct allegations against the executive.
When Wynn Resorts was awarded the license in 2013, it was viewed by the MGC as a legitimate contender and Steve Wynn was deemed a “highly ethical” individual and a “perfectionist who is passionate about everything he does.” When news broke in early 2018 regarding Steve Wynn’s sexual improprieties, his reputation was put on the line.
Wynn Resorts has already admitted that certain high-ranking individuals at the organization were aware of Steve Wynn’s actions, yet they did nothing to stop him. Those individuals are no longer with the company, as Wynn Resorts stated recently, and the MGC is calling into question both Steve Wynn’s activities and those of the company.
The commission could ultimately decide to fine Wynn Resorts or revoke the license it was given for the Boston-area casino, Encore Boston Harbor.
Wynn Resorts has pushed forward with Encore, which is expected to open June 23. It is already taking reservations, but a decision by the MGC to revoke the license could bring everything to a grinding halt. It would force thousands of workers out of their jobs and lead to possibly millions of dollars in lost tax revenue.
Because of the potential damage that could befall the area by a license revocation, most analysts predict that Wynn Resorts will retain its concession, but be forced to pay a fine.
Nevada gambling regulators announced a settlement with Wynn Resorts in late January. The settlement does not revoke or limit Wynn Resort’s gambling license in the world’s second-largest gambling center, but requires the company to pay a fine. The amount will be set by the Nevada Gaming Commission, but it wasn’t immediately clear when that could occur.
In Macau, the Gaming Inspection and Coordination Bureau did not open its own investigation into Wynn Resorts but said last year that it was seeking more information from local subsidiary Wynn Macau. The local arm of the Wynn casino empire said it would “fully cooperate with any requests” from the Macau Gaming Inspection and Coordination Bureau. DB
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