BOSTON — Shares of Wynn Resorts tumbled after The Wall Street Journal reported dozens of allegations of sexual assault and harassment by Steve Wynn, the casino operator's chairman, CEO and biggest shareholder.
According to the Wall Street Journal, multiple women have accused Wynn of pressuring them into sex and one employee was paid a $7.5 million settlement after a rape in 2005.
“The idea that I ever assaulted any woman is preposterous,” Wynn said in a statement sent to Boston 25 News Friday.
Massachusetts Attorney General Maura Healy said it's up to the Game Commission to investigate and determine if the allegations have any impact on Wynn's casino currently under construction in Everett.
“The suitability and integrity of our gaming licensees is of the utmost importance, and ensuring that suitability is an active and ongoing process," the commission told Boston 25 News in a statement.
Wynn blamed the accusations on his ‘terrible and nasty’ divorce lawsuit with his ex-wife, Elaine.
“We find ourselves in a world where people can make allegation, regardless of the truth, and a person is left with the choice of weathering insulting publicity or engaging in multiyear lawsuits. It is deplorable for anyone to find themselves in this situation," Wynn's statement said.
The company's stock gave up $16.85, or 8.4 percent, to $183.75.
In addition to his casino business, Wynn is the finance chairman of the Republican National Committee.
The Wynn Resorts Board of Directors issued the following statement late Friday night.
The Board of Directors of Wynn Resorts met today and formed a Special Committee of the Board comprised solely of independent directors to investigate allegations contained in the January 26, 2018 Wall Street Journal article. The Special Committee will be chaired by Ms. Patricia Mulroy, a member of the Board's Corporate Governance and Compliance Committees and a former member of the Nevada Gaming Commission. The Board is deeply committed to ensuring the safety and wellbeing of all of the Company's employees and to operating with the highest ethical standard.
The Associated Press contributed to this report.
Cox Media Group