LAS VEGAS (CBSNewYork) — Stock in Wynn Resorts dropped about 10 percent on Friday, after casino mogul Steve Wynn was accused of sexual misconduct.
Wynn also serves as Finance Chairman of the Republican National Committee. He’s denied any wrongdoing.
Wynn was considered a visionary in the casino business. He started transforming the Las Vegas strip in the 1980s.
Now, he’s been accused of ongoing, pervasive misconduct.
The Wall Street Journal said dozens of female employees report that Wynn pressured them into sex acts.
One manicurist claimed Wynn demanded she have sex with him. She later complained to human resources and collected more than $7-million.
Wynn is the first CEO and founder of a major, publicly held company to face such allegations.
“Sick, abusive, I have a daughter, mother, two sisters, you get disgusted,” Peter Ruiz said.
“It’s so sad, and I love the Me Too movement. I’ve experienced it in the workplace as well, so I know exactly how it feels,” Dana Martinez said.
Wynn addressed the allegations in a statement on Friday.
“The idea that I ever assaulted any woman is preposterous. We find ourselves in a world where people make allegations, regardless of the truth, and a person is left with the choice of weathering insulting publicity, or engaging in multi-year lawsuits. It is deplorable for anyone to find themselves in this situation,” he said.
The casino business is tightly regulated. It’s not clear how the allegations will affect Wynn’s ability to hold various licenses.
Wynn Resorts said it has a sexual harassment hotline for employees, but not one complaint was made about Steve Wynn.