Wynn Resorts Tumbles as Founder Accused of Pattern of Harassment

Wynn Resorts Ltd. shares sank more than 8 percent after the Wall Street Journal reported that its founder, casino industry legend Steve Wynn, sexually harassed numerous women over many years.

Wynn, also the finance chairman for the Republican National Committee, paid $7.5 million to settle claims brought by a former manicurist at his resort who said the executive pressured her to have sex with him, the Journal said. Wynn pressured 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.