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28 January 2018, 01:56 | Rufus Hill
Wynn Resorts (WYNN) PT Set at $228.00 by Citigroup
Casino owner Steve Wynn would not say Friday whether he planned to resign from his role as finance chairman of the Republican National Committee after a report detailing decades of alleged sexual misconduct, The Washington Postreported Friday. Wynn coerced massage therapists to perform sex acts for $1,000 tips, and others at the spa created fictitious appointments to avoid contact with him, said the newspaper, which contacted more than 150 people who worked with the casino magnate.
Wynn denied all the accusations to the paper, claiming it was all a smear campaign by his ex-wife Elaine Wynn.
"The idea that I ever assaulted any woman is preposterous", Wynn told The Journal in response to the report.
The news hit Wynn Resorts hard yesterday, with the company's stock plummeting more than 10 points late into the day.
While Wynn is most famous for helping rebuild the Las Vegas Strip in the 1990s and serving as finance chair of the Republican National Committee, he was received with acclaim in 2013 after making a $25 million contribution to the University of Iowa. The company now operates casino resorts on the Las Vegas Strip and Macau, and is building a $2.4-plus-billion resort in the Greater Boston area in MA. The billionaire has denied the rumors - which include accusations that he forced employees to engage in sex acts - blaming ex-wife Elaine Wynn, "with whom I am involved in a awful and nasty lawsuit". "It is deplorable for anyone to find themselves in this situation", he said.
It's unclear whether the RNC will force Wynn to step down, or what the RNC will do with the money Wynn helped raise. After telling others, including a supervisor, of the event, she was paid a $7.5 million settlement.
"There is no bigger name in the casino business than Steve Wynn", said Ralston, who has been covering business and politics in Nevada for 30 years and has interviewed Wynn himself multiple times over the years.
Wynn also gave $100,000 to the National Republican Senatorial Committee previous year.
Gov. Charlie Baker is backing the Gaming Commission's review of the sex assault claims, a spokesman said.
Politico described Wynn as a "prolific Republican donor", though it noted he funded Democratic campaigns before 2010, too. "Since the inception of the company, not one complaint was made to that hotline regarding Mr. Wynn", the representative said.
The Journal explained that on top of potentially losing their jobs, workers anxious that upsetting Wynn would ruin their career prospects in other parts of the industry, where Wynn is powerful.
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