>> The fallout is building up from allegations of sexual harassment against billionaire CEO Steve Wynn. The Nevada gaming regulator and agency that oversees casinos, gambling, and licensing for the world's most famous gambling destination is now looking into alleged sexual misconduct by the US Casino Mogul. The probe follows a bombshell report by the Wall Street Journal, detailing the Wynn Resort CEO's alleged sexual misconduct.
The report has ricocheted around the world, hitting the gambling empire's stock and prompting rating agency standard enforced this week to revise the company's rating outlook to negative from stable. Macau's gaming regulator told Reuters it also met with Wynn executives this week to quote, understand the situation. The Macau business generated over 75% of Wynn Resorts revenues.
The boards of both US and the Macau based companies have said they have formed special committees to investigate the allegations. Steve Wynn hit back immediately following the journal report saying in a statement, quote, the idea that I ever assaulted any woman is preposterous. And added that the story was instigated by his ex wife, Elaine Wynn, who is seeking a revised divorce settlement through her lawyer, she denies she did any such thing.
Reuters could not independently verify the allegations. The report has had wider political implications for Steve Wynn as well, he resigned as finance chairman of the Republican National Committee on Saturday. A position he took after Trump's election. Wynn is the latest CEO to be hit by sexual misconduct allegations, which brought down big executives like Hollywood film Mogul Harvey Weinstein, and Uber co founder Travis Kalanick.
But Wynn is the first CEO of a major publicly traded company known to be investigated for sexual misconduct allegations.