Wynn Resorts feeling fallout from sex assault allegations against Steve Wynn

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What’s next is in the investigation into allegations against Steve Wynn, is a big question lingering on the minds of many. The bombshell report by the Wall Street Journal alleging years of sexual assault allegations against Wynn came out just days after the billionaire announced the second of two expansion projects in Las Vegas.

The last 72 hours or so have been a whirlwind since that article was released.  Wynn has stepped down as finance chairman for the National Republican Party, and his company says he’s now the target of an internal investigation.

Friday’s Wall Street Journal’s scoop on Wynn’s alleged pattern of sexual harassment in the workplace wasn’t a surprise to some.  Longtime cocktail server Charlotte Arrowsmith, who worked for Wynn when he owned the Mirage, says it was part of the corporate culture.

“The attitude was, if you weren’t doing a boss, you would do a customer if they wanted you to,” Arrowsmith said.

Arrowsmith was part of a 1997 lawsuit suing Wynn for sexual harassment and discrimination.  The case was settled out of court, so the details weren’t immediately available.

As details of the post-2005, multimillion-dollar settlement emerged, company stock started to take a nose dive.

It was trading at $200 a share the day before the report. Stocks were riding high after Wynn announced the second of two major Las Vegas expansions — Wynn West, which is on the site of the former Alon project next to Trump Towers.

However, since Friday, the company’s stock value has dropped by $3 billion. So, that begs the question: What happens to Paradise Park, The Lagoon and the third hotel tower behind Wynn’s two existing hotels, and the so-called Wynn West.

The Wynn Resorts’ board of directors announced an investigation into allegations against the company’s namesake. 
It will be lead by board member Pat Mulroy, who’s the former head of the Southern Nevada Water Authority. She’s also widely considered to be a Wynn ally.

8 News NOW reached out to Wynn Resorts to see how the investigation will proceed, along with trying to find out how the results would be disseminated, but a response wasn’t received.

The investigation into Wynn’s conduct is an investigation Arrowsmith says she will watch closely.

“I would truly like to see him held accountable for something,” Arrowsmith said.

Wynn has denied the recent allegations against him, calling them preposterous. 8 News NOW also reached out to the new head of the Gaming Control Board, Chairwoman Becky Harris to see if there will be an investigation. 

She said they’re aware of the allegations and reviewing the information.
 

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