Steve Wynn Resigns in Wake of Misconduct Allegations

Total Page：16

File Type：pdf, Size：1020Kb

Steve Wynn Resigns in Wake of Misconduct Allegations Ronn Torossian, CEO, 5WPR The trouble for embattled casino mogul Steve Wynn continues. His business, Wynn Resorts continues to flounder after reports of sexual misconduct directed at Wynn hit the press. Now, after a week of watching his company’s stock prices tumble, Wynn has chosen to resign his position as chairman and chief executive. Wynn released a statement saying he had to step down due to “an avalanche of negative publicity” which led to “a rush to judgment (that) takes precedence over everything else, including the facts…” Wynn has previously called the allegations against him “preposterous,” and he vowed to fight to clear his name. Those allegations stem from several instances in which women hired by Wynn for massages or other services were “pressured to disrobe” or to “perform sex acts” according to various media reports. At least one woman, a manicurist, reported the incident to human resources and told various friends and co- workers about the alleged incident. Subsequently, Wynn paid her a $7.5 million settlement. When some of these allegations came to light, The Wall Street Journal published an investigative piece last month detailed a long history of Wynn’s alleged behavior toward female staff. The Journal reported that Wynn had been accused of harassment by employees and pressuring them for sex for decades. That report touched off a firestorm, leading to Wynn losing tremendous status in the public eye. He had to resign as finance chair of the Republican National Committee, then learned that the University of Pennsylvania was revoking his honorary degree and removing his name from a scholarship at the school. Wynn’s company suffered as well. As the stock price continued to fall, the Massachusetts Gaming Commission said they would investigate the allegations, since Wynn Resorts is in the process of building a massive casino project just outside Boston. In a statement, the commission said: “(We) need to assess the overall impact and implications of this significant development…” Finally, Wynn was compelled to resign from his own board. Fellow board members expressed regret at this development. One member, Boone Wayson, praised Wynn: “Steve Wynn is an industry giant… He is a philanthropist and a beloved leader and visionary. He played the pivotal role in transforming Las Vegas into the entertainment destination it is today…” No one can honestly deny the impact Wynn made on Las Vegas. He is responsible for some of the most well-known landmarks in the city, including the Mirage, the Bellagio, as well as the Wynn Hotel, and Encore. Wynn also upped the ante on the overall Vegas experience, popularizing top-shelf amenities, fine dining, and high-level shopping experiences. Until a few weeks ago, this was Steve Wynn’s legacy: a man who had started with his father’s small bingo operation and a small stake in a rundown casino, then built a massive, world-spanning entertainment powerhouse. Now, that reputation is up in the air. Will Wynn take control of this narrative and regain his reputation, or will he become yet another footnote in the long list of powerful men snared by misconduct allegations? About the Author: Ronn Torossian founded 5WPR, a leading independent American PR agency. .

Copy Link

Recommended publications

About Wynn Resorts
About Wynn Resorts About Wynn Resorts Stephen A. Wynn, the founder of Wynn Resorts, Limited, is the preeminent designer, developer and operator of Integrated Resorts globally. Wynn Resorts owns and operates two Integrated Resorts in Las Vegas, Nevada and three in the Macau Special Administrative Region of the People’s Republic of China (“Macau”). The Wynn development team envisions, designs, and builds boldly conceived Integrated Resorts that set progressively higher standards for quality, guest service and entertainment and that transformed their markets from “gaming-only” locales to diversified global tourist destinations. Wynn Integrated Resorts seamlessly integrate sophisticated architecture, luxurious interior design, and a diverse selection of amenities, including fine-dining restaurants, premium-retail offerings, a full range of 24-hour games, convention facilities, and live-performance venues. The result: unique experiences for guests of the highest quality. Guided by the simple truth that, “Only people can make people happy,” Wynn employees are devoted to delivering the Wynn promise of always exceeding guest expectations. For 40 years, resorts led by the Wynn development team have been the employer of choice in their markets. An Unparalleled Record of Market Transformation As Chairman of the Board, President and Chief Executive Officer of Mirage Resorts, Incorporated, Mr. Wynn opened The Mirage, Las Vegas’ first true Integrated Resort, in 1989. The Mirage, at that time the most expensive casino in the history of Las Vegas, was an instant success, breaking all Las Vegas records for profitability and for the first time generated more non-gaming revenue than gaming revenue for a Las Vegas resort. The Mirage not only established the concept of an Integrated Resort but also broadened the global appeal of Las Vegas, triggering an immediate $12 billion city-wide investment boom that made Las Vegas the number one tourist destination in the world.
[Show full text]
53 Feature Photography by Jerry Metellus
FEATURE PHOTOGRAPHY BY JERRY METELLUS In this, Luxury's first ever “Power Influencer” issue, we present to you an impressive array of individuals who’ve been integral in enriching our community in the areas of gaming, education, arts and culture, hospitality, philanthropy and development. APRIL 2016 | LUXURYLV.COM 53 FEATURE | POWER INFLUENCER STRATEGIC THINKING PROCESS Donald Snyder’s success is a result of taking tough jobs, solving problems and building consensus BY MATT KELEMEN Donald Snyder left his position as acting president In a city where mavericks traditionally played with of the University of Nevada, Las Vegas at the end of their cards close to their chests, Snyder made it a 2015 to make way for incoming president, Len Jessup, point always to lay his on the table face up. Although but he continues to serve as presidential adviser for he arrived in Vegas with his family via Reno, Nev., as strategic initiatives. president of First Interstate Bank—which later was consolidated into Wells Fargo—his experience coming The co-founder of Bank of Nevada and prime mover into an unfamiliar situation and building consensus to behind the development of The Smith Center for the tackle tough problems worked to his benefit in the still- Performing Arts has been active with the university young city. since shortly after arriving in Las Vegas in 1987, but that initial involvement only would be the beginning of what “A lot of what I’ve done over the years I categorize would become a wide spectrum of community service more as community building,” he says, crediting his and philanthropic endeavors.
[Show full text]
Amended Complaint for Wynn Resorts Lawsuit
Electronically Filed 3/23/2018 3:55 PM Steven D. Grierson CLERK OF THE COURT 1 ACOM WOLF, RIFKIN, SHAPIRO, SCHULMAN & RABKIN, LLP 2 DON SPRINGMEYER, ESQ. Nevada Bar No. 1021 3 BRADLEY S. SCHRAGER, ESQ. 4 Nevada Bar No. 10217 3556 E. Russell Road, Second Floor 5 Las Vegas, Nevada 89120 Telephone: (702) 341-5200/Fax: (702) 341-5300 6 [email protected] [email protected] 7 8 COHEN MILSTEIN SELLERS & TOLL PLLC JULIE GOLDSMITH REISER 9 (pro hac vice to be submitted) KALPANA KOTAGAL 10 (pro hac vice to be submitted) 11 ELIZABETH A. ANISKEVICH (pro hac vice to be submitted) 12 ERIC S. BERELOVICH (pro hac vice to be submitted) 13 1100 New York Avenue NW, Suite 500 Washington, D.C. 20005 14 Telephone: (202) 408-4600/Fax: (202) 408-4699 15 [email protected] [email protected] 16 [email protected] [email protected] 17 (additional counsel on signature page) 18 19 Attorneys for Plaintiffs 20 DISTRICT COURT 21 CLARK COUNTY, NEVADA 22 THOMAS P. DiNAPOLI, COMPTROLLER Case No.: A-18-770013-B OF THE STATE OF NEW YORK, AS Dept. No.: XIII 23 ADMINISTRATIVE HEAD OF THE NEW YORK STATE AND LOCAL RETIREMENT VERIFIED AMENDED 24 STOCKHOLDER DERIVATIVE SYSTEM AND TRUSTEE OF THE NEW COMPLAINT 25 YORK STATE COMMON RETIREMENT FUND, and NEW YORK CITY (Exemption From Arbitration Requested. 26 EMPLOYEES’ RETIREMENT SYSTEM, Damages Exceed $50,000) NEW YORK CITY POLICE PENSION Request for Business Court 27 FUND, POLICE OFFICER’S VARIABLE Assignment Pursuant to SUPPLEMENTS FUND, POLICE EDCR 1.61 (a) 28 VERIFIED AMENDED STOCKHOLDER DERIVATIVE COMPLAINT 2334043 v2 Case Number: A-18-770013-B 1 SUPERVISOR OFFICERS’ VARIABLE SUPPLEMENTS FUND, NEW YORK CITY 2 FIRE PENSION FUND, FIRE FIGHTERS’ VARIABLE SUPPLEMENTS FUND, FIRE 3 OFFICERS’ VARIABLE SUPPLEMENTS 4 FUND, BOARD OF EDUCATION RETIREMENT SYSTEM OF THE CITY OF 5 NEW YORK, TEACHERS’ RETIREMENT SYSTEM OF THE CITY OF NEW YORK, 6 and NEW YORK CITY TEACHERS’ VARIABLE ANNUITY PROGRAM, 7 derivatively on behalf of WYNN RESORTS, 8 LTD., 9 Plaintiffs, 10 vs.
[Show full text]
Administration of Donald J. Trump, 2019 Remarks at the Israeli
Administration of Donald J. Trump, 2019 Remarks at the Israeli American Council National Summit 2019 in Hollywood, Florida December 7, 2019 The President. Well, thank you very much. And thank you to Miriam. Thank you. She's so cute, she said: "I didn't finish my speech. What should I do?" I said, "Go ahead and finish it. Don't worry about it." [Laughter] Don't let a little music get in your way. And it was a beautiful speech. That was a beautiful speech. Thank you, both. These are great people, and they love Israel. And I have to say, on behalf of everyone here today, I want to thank Miriam and Sheldon for the extraordinary commitment they make to fostering an unbreakable bond between the United States and Israel. It's unbreakable. Unbreakable. Each of you in this room tonight is a national treasure. Just remember that too. Before continuing, I also want to express our profound support to our entire Nation for the victims of the evil and barbaric attack at the Naval Air Station in Pensacola, Florida. Our hearts break for the families who lost their precious loved ones in this atrocity. Another atrocity. We send the urgent prayers of all Americans. During times of pain, Americans always stand together and never leave each other's side. We do best under pressure. Today I'm here to talk about how peace-loving nations can work together to build a future of greater security, prosperity, and hope for our children and generations to come. I'd like to begin by saying how truly thrilled I am to become the President of the United States and to address the fastest growing Jewish organization in the Nation: the Israeli American Council.
[Show full text]
Amended Complaint
Electronically Filed 3/23/2018 3:55 PM Steven D. Grierson CLERK OF THE COURT 1 ACOM WOLF, RIFKIN, SHAPIRO, SCHULMAN & RABKIN, LLP 2 DON SPRINGMEYER, ESQ. Nevada Bar No. 1021 3 BRADLEY S. SCHRAGER, ESQ. 4 Nevada Bar No. 10217 3556 E. Russell Road, Second Floor 5 Las Vegas, Nevada 89120 Telephone: (702) 341-5200/Fax: (702) 341-5300 6 [email protected] [email protected] 7 8 COHEN MILSTEIN SELLERS & TOLL PLLC JULIE GOLDSMITH REISER 9 (pro hac vice to be submitted) KALPANA KOTAGAL 10 (pro hac vice to be submitted) 11 ELIZABETH A. ANISKEVICH (pro hac vice to be submitted) 12 ERIC S. BERELOVICH (pro hac vice to be submitted) 13 1100 New York Avenue NW, Suite 500 Washington, D.C. 20005 14 Telephone: (202) 408-4600/Fax: (202) 408-4699 15 [email protected] [email protected] 16 [email protected] [email protected] 17 (additional counsel on signature page) 18 19 Attorneys for Plaintiffs 20 DISTRICT COURT 21 CLARK COUNTY, NEVADA 22 THOMAS P. DiNAPOLI, COMPTROLLER Case No.: A-18-770013-B OF THE STATE OF NEW YORK, AS Dept. No.: XIII 23 ADMINISTRATIVE HEAD OF THE NEW YORK STATE AND LOCAL RETIREMENT VERIFIED AMENDED 24 STOCKHOLDER DERIVATIVE SYSTEM AND TRUSTEE OF THE NEW COMPLAINT 25 YORK STATE COMMON RETIREMENT FUND, and NEW YORK CITY (Exemption From Arbitration Requested. 26 EMPLOYEES’ RETIREMENT SYSTEM, Damages Exceed $50,000) NEW YORK CITY POLICE PENSION Request for Business Court 27 FUND, POLICE OFFICER’S VARIABLE Assignment Pursuant to SUPPLEMENTS FUND, POLICE EDCR 1.61 (a) 28 VERIFIED AMENDED STOCKHOLDER DERIVATIVE COMPLAINT 2334043 v2 Case Number: A-18-770013-B 1 SUPERVISOR OFFICERS’ VARIABLE SUPPLEMENTS FUND, NEW YORK CITY 2 FIRE PENSION FUND, FIRE FIGHTERS’ VARIABLE SUPPLEMENTS FUND, FIRE 3 OFFICERS’ VARIABLE SUPPLEMENTS 4 FUND, BOARD OF EDUCATION RETIREMENT SYSTEM OF THE CITY OF 5 NEW YORK, TEACHERS’ RETIREMENT SYSTEM OF THE CITY OF NEW YORK, 6 and NEW YORK CITY TEACHERS’ VARIABLE ANNUITY PROGRAM, 7 derivatively on behalf of WYNN RESORTS, 8 LTD., 9 Plaintiffs, 10 vs.
[Show full text]
Wynn Resorts Covered up Sexual Harassment Allegations Against CEO, Report Says - the Boston Globe
Wynn Resorts covered up sexual harassment allegations against CEO, report says - The Boston Globe Wynn Resorts covered up sexual harassment allegations against CEO, report says DAVID L. RYAN/GLOBE STAFF Representatives from Wynn Resorts were sworn in Tuesday at the Massachusetts Gaming Commisson’s threeday hearing. By Mark Arsenault and Travis Andersen GLOBE STAFF APRIL 02, 2019 https://www.bostonglobe.com/metro/2019/04/02/report-wynn-resorts-disregarded-company-policies-sexual-misconduct-allegations/MSnQwBNif2bRh5DGtPC84N/st… 1/7 Wynn Resorts covered up sexual harassment allegations against CEO, report says - The Boston Globe Wynn Resorts executives, aided by outside lawyers, covered up allegations of sexual harassment and misconduct against founder Steve Wynn, creating a culture in which employees were afraid to pursue complaints or believed that speaking up would be pointless, according to a scathing report presented before the Massachusetts Gaming Commission Tuesday. As the commission began long-awaited hearings on whether the company should retain its casino license in light of the coverup, state investigators said that former company officials had carefully hidden numerous allegations against its ex-CEO — and in some cases their settlements — for years. “Their efforts at secrecy made it exceedingly difficult, if not impossible, for gaming regulators to detect potentially derogatory information through typical regulatory means, which rely heavily on robust and voluntary self-disclosures by the applicant/licensee,” state investigators wrote. In painstaking detail, the 200-page report, the product of an investigation that began 14 months ago, described a litany of misconduct allegations against the 77-year-old Wynn. The report also found a litany of failures on the part of former Wynn executives: to apply the company’s policies and procedures to Steve Wynn, to properly investigate complaints against him, and to properly document the complaints.
[Show full text]
Wynn Resorts, Ltd. Myung Ji Doh Johnson & Wales University - Providence, [email protected]
Johnson & Wales University ScholarsArchive@JWU MBA Student Scholarship Graduate Studies 5-10-2011 Wynn Resorts, Ltd. Myung Ji Doh Johnson & Wales University - Providence, [email protected] Follow this and additional works at: https://scholarsarchive.jwu.edu/mba_student Part of the Food and Beverage Management Commons, and the Gaming and Casino Operations Management Commons Repository Citation Doh, Myung Ji, "Wynn Resorts, Ltd." (2011). MBA Student Scholarship. 3. https://scholarsarchive.jwu.edu/mba_student/3 This Research Paper is brought to you for free and open access by the Graduate Studies at ScholarsArchive@JWU. It has been accepted for inclusion in MBA Student Scholarship by an authorized administrator of ScholarsArchive@JWU. For more information, please contact [email protected]. Johnson & Wales University Providence, Rhode Island Feinstein Graduate School WYNN RESORTS, LIMITED A Research Project Submitted in Partial Fulfillment of the Requirements for the MBA Degree Course: HOSP6800 Hospitality and Touri sm Business Policy and Strategy May 10, 2011 Wynn Resorts, Ltd. 2 I. All financial data have come from the 20 I 0 or 2009 IO-K Report of Las Vegas Sands Corp., MGM Resorts International, and Wynn Resorts, Ltd. 2. All industry standards are from personal communications with Dr. Cooper, HOSP5600. 3. All industry medians are taken from Hoovers.com and the market price is taken from Yahoo Finance. Wynn Resorts, Ltd. 3 TABLE OF CONTENTS Executive Summary ........................................................................................................................
[Show full text]
Not for Publication United States Court Of
FILED NOT FOR PUBLICATION MAR 25 2021 MOLLY C. DWYER, CLERK UNITED STATES COURT OF APPEALS U.S. COURT OF APPEALS FOR THE NINTH CIRCUIT STEVE WYNN, No. 20-15388 Plaintiff-Appellee, D.C. No. 2:18-cv-00609-JCM-NJK v. LISA BLOOM; THE BLOOM FIRM, MEMORANDUM* Defendants-Appellants. Appeal from the United States District Court for the District of Nevada James C. Mahan, District Judge, Presiding Argued and Submitted March 10, 2021 Las Vegas, Nevada Before: CLIFTON, NGUYEN, and BENNETT, Circuit Judges. Defendants-Appellants Lisa Bloom and the Bloom Firm (“Bloom Defendants”) appeal from the district court’s denial of their Special Motion to Dismiss (“anti-SLAPP motion”) brought pursuant to Nevada Revised Statute § 41.660 (“anti-SLAPP statute”). We have jurisdiction under the collateral order * This disposition is not appropriate for publication and is not precedent except as provided by Ninth Circuit Rule 36-3. doctrine,1 review the district court’s denial of Bloom Defendants’ anti-SLAPP motion de novo, and affirm. See Jordan-Benel v. Universal City Studios, Inc., 859 F.3d 1184, 1188 (9th Cir. 2017). Wynn has demonstrated a genuine dispute of material fact as to whether Bloom Defendants acted with actual malice in publishing the Press Release.2 The actual malice standard requires a showing that the defendant published a false or defamatory statement “with knowledge that it was false or with reckless disregard of whether it was false or not.” N.Y. Times Co. v. Sullivan, 376 U.S. 254, 280 (1964). To constitute reckless disregard, the defendant must have published a false statement with a “high degree of awareness of [its] probable falsity,” Garrison v.
[Show full text]
Guide to the Mirage Hotel and Casino Photograph Collection
Guide to the Mirage Hotel and Casino Photograph Collection This finding aid was created by Billy Marino. This copy was published on April 01, 2019. Persistent URL for this finding aid: http://n2t.net/ark:/62930/f1494z © 2019 The Regents of the University of Nevada. All rights reserved. University of Nevada, Las Vegas. University Libraries. Special Collections and Archives. Box 457010 4505 S. Maryland Parkway Las Vegas, Nevada 89154-7010 [email protected] Guide to the Mirage Hotel and Casino Photograph Collection Table of Contents Summary Information ..................................................................................................................................... 3 Biographical Note ............................................................................................................................................ 3 Scope and Contents Note ................................................................................................................................ 4 Arrangement .................................................................................................................................................... 4 Administrative Information ............................................................................................................................. 4 Names and Subjects ........................................................................................................................................ 5 Collection Inventory .......................................................................................................................................
[Show full text]
Company Presentationpresentation Forward Looking Statements
CompanyCompany PresentationPresentation Forward Looking Statements These materials contain forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act. Such statements include statements regarding the Company's expectations, hopes or intentions regarding the future, including but not limited to statements regarding the Company's strategy, competition (including the expansion of gaming into additional markets), expenses, indebtedness, development plans (including anticipated costs, timing and eventual acceptance of new facilities), financing, revenue, EBITDA, operations, earnings, regulations and compliance with applicable laws. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Among the factors that could cause actual results to differ materially are the following: competition, our current level of indebtedness, uncertainties relating to new developments and expansion, the need for additional financing and regulation. In particular, there can be no assurance that our construction of Wynn Las Vegas will be completed on time or within budget. Wynn Las Vegas is subject to the many risks inherent in the development and operation of a new business enterprise, including potential unanticipated design, construction, regulatory, environmental and operating problems, increased project costs, timing delays, lack of adequate financing and the significant risks commonly associated with implementing a new marketing strategy. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the Company's Prospectus. All forward-looking statements in these materials are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.
[Show full text]
The Oral History of William S. Boyd -- Executive Chairman of Boyd Gaming Corporation
\\jciprod01\productn\N\NVG\4-2\NVG201.txt unknown Seq: 1 16-JAN-14 14:00 THE ORAL HISTORY OF WILLIAM S. BOYD EXECUTIVE CHAIRMAN OF BOYD GAMING CORPORATION I. INTRODUCTION William S. Boyd has been an integral part of the Las Vegas community and the national gaming industry for many decades. He began his career as a lawyer in Las Vegas where he practiced law for over fifteen years. On January 1st, 1975, Mr. Boyd formed Boyd Gaming with his father, Sam Boyd.1 After many new ventures, acquisitions, and an initial public offering, Boyd Gaming Corporation now operates twenty-two properties in eight states.2 Moreover, Mr. Boyd’s success is not only reflected by his company’s balance sheet; he has also maintained a life-long commitment to serving the community. The Boyd family’s charitable contributions in Nevada alone are numerous; including, establishing multiple Boys and Girls Clubs, the William S. Boyd School of Law, and the United Way of Southern Nevada. 1 See Company History, BOYD GAMING, http://www.boydgaming.com/about-boyd-gaming/ company-history (last visited Nov. 1, 2013). 2 Id. 145 \\jciprod01\productn\N\NVG\4-2\NVG201.txt unknown Seq: 2 16-JAN-14 14:00 146 UNLV GAMING LAW JOURNAL [Vol. 4:145 Today, Mr. Boyd serves many different roles. He is the Executive Chair- man of Boyd Gaming Corporation, the Vice Chairman of the Board of Direc- tors of the American Gaming Association, and former President of the National Center for Responsible Gaming. Mr. Boyd is also a husband, father of three children, and grandfather of eight.3 What follows is a classic American success story.
[Show full text]
Place Your Bets
n EI D PLACE YOUIR BETS THE GAMBLING INDUSTRY AND THE 199(5 PRESIDENTIAL ELECTIONS D MEREDITH O'BRIEN THE CENTER FOR PUBLIC INTEGRITY PLACE YOUR BETS THE GAMBLING INDUSTRY AND THE 1996 PRESIDENTIAL ELECTION MEREDITH O'BRIEN THE CENTER FOR PUBLIC INTEGRITY 1634 I STREET, N.W., SUITE 902 WASHINGTON, D C. 20006 phone: 202-783-3900 e-mail: [email protected] web site: http://www.essential org/cpi The Center for Public Integrity is an independent, nonprofit organization that examines public policy and ethics-related issues. Center reports combine the substantive study of government with in-depth journalism. The Center is funded by foundations, individuals, corporations, labor unions and revenue from news organizations. Special thanks to the Carnegie Corporation of New York, which provided vital support for this project. The Center also thanks those who provided the Center with major, general support, including the Area Foundation, the Hafif Family Foundation, the Cissy Patterson Trust, the John D. & Catherine T. MacArthur Foundation, the Town Creek Foundation, and the Rockefeller Family Fund. The Center also wishes to thank Sheila Krumholz of the Center for Responsive Politics for her help in preparing this report and Scott Weiss for producing the charts that accompany the text. This report and the views expressed herein are those of the author. What is written here does not necessarily reflect the views of the individual members of the Center for Public Integrity's Board of Directors or the Advisory Board. ©1996 The Center for Public Integrity Printed in the United States of America All rights reserved.
[Show full text]