• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The heiress of $10 billion Perdue Farms and the $12 billion Sheraton Hotels empire wore hand-me-downs, still rides the subway, and flies economy

2

Richard Branson double-booked his own job interview. The candidate stuck in traffic with him for 2.5 hours is now Virgin's CEO

3

IBM’s CEO disagrees with JPMorgan CEO Jamie Dimon’s disdain for texting in meetings: ‘Telling people they can't use their technology would be weird’

1

The heiress of $10 billion Perdue Farms and the $12 billion Sheraton Hotels empire wore hand-me-downs, still rides the subway, and flies economy

2

Richard Branson double-booked his own job interview. The candidate stuck in traffic with him for 2.5 hours is now Virgin's CEO

3

IBM’s CEO disagrees with JPMorgan CEO Jamie Dimon’s disdain for texting in meetings: ‘Telling people they can't use their technology would be weird’
Wynn Resorts

Massachusetts Fines Wynn Resorts $35 Million

By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
May 1, 2019, 12:09 PM ET
Add Fortune on Google for similar content.

The fallout over sexual misconduct allegations against casino mogul Steve Wynn continues to haunt the company he founded.

Gaming regulators in Massachusetts have fined Wynn Resorts $35 million for not disclosing the charges when applying for a casino license near Boston. However, they stopped short of revoking the company’s license and the 671-room casino is expected to open in June.

Additionally, current CEO Matthew Maddox is being fined $500,000 for his role in the matter.

Wynn, who resigned as CEO last February and did not receive any severance, has denied the allegations of non-consensual sex. He sold his entire stake in the company for $2.1 billion last March, considerably less than it was worth before the accusations surfaced.

The Massachusetts ruling follows a similar penalty from casino officials in Nevada, who hit the company with a $20 million fine in February.

Wynn was accused of repeated sexual misconduct over a period that spanned decades, with one incident leading to a $7.5 million settlement between Wynn and a former manicurist at his resort who said the executive pressured her to have sex with him.

“The corporate culture of the founder-led organization led to disparate treatment of the CEO in ways that left the most vulnerable at grave risk,” said the Massachusetts Gaming Commission in a statement. “While the Company has made great strides in altering that system, this Commission remains concerned by the past failures and deficiencies.”

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.