American casino mogul Steve Wynn has become embroiled in a sexual misconduct scandal, which have seen his company's value plummet and him being forced to resign his position as finance chair for the Republican National Committee.
Wynn has been accused of sexual improprieties by dozens of women over the years, including coercing a woman into having sex with him. The allegations have hit hard and fast for Wynn, who built a name for himself by getting in on the Frontier and Golden Nugget casino brands before getting in on The Mirage, Treasure Island, and Wynn properties. For his part, Wynn has called the allegations "preposterous".
Wynn's U.S. stocks took a 10% hit on Friday, and the group's Hong Kong shares were also down heavily on Monday. The tycoon is now under investigation by the Nevada Gaming Control Board, and is being pressured to resign his position as CEO of Wynn Resorts. If that were to occur, the company could be in dire straits. There appears to be no clear plan for such a contingency, which is odd, as Wynn is 76 years old.
Needless to say, this story is likely to grow substantially in the coming days and Casino Listings will keep readers up to date as we learn more.