Wynn Resorts fined $35M for misconduct allegations response

EVERETT, Mass. — Massachusetts gambling regulators have levied a $35 million fine on Wynn Resorts but allowed it to retain its casino license after failing to disclose allegations of sexual misconduct against company founder Steve Wynn.

The Massachusetts Gaming Commission's Tuesday decision clears the way for the opening of Encore Boston Harbor in June. The commission also fined CEO Matthew Maddox $500,000 and mandated an independent firm evaluate the company's recent organizational changes.

The five-member panel deliberated privately for weeks after releasing an investigative report and holding hearings into what company officials knew about the misconduct allegations this month. Steve Wynn has denied the claims but resigned as CEO last year.

Nevada regulators earlier this year levied a $20 million fine on Wynn Resorts but also allowed it to retain its state license.

Wynn Resorts sent Boston 25 News the following statement:

"Wynn Resorts received a copy of the Massachusetts Gaming Commission's decision on suitability late today.  We are in the process of reviewing that decision and considering the full range of our next steps.

We will not have further comment until we have thoroughly reviewed and considered the MGC's decision."

Associated Press