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Harassment Claims Add to History of Issues With Wynn Board

  • ‘They are in a very tough spot... They have to do their job’
  • Casino magnate calls allegations against him ‘preposterous’
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Steve Wynn denied allegations he sexually harassed numerous women work for him. Bloomberg’s Crayton Harrison reports.(Source: Bloomberg)
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Long before allegations of serial sexual harassment against billionaire Steve Wynn reverberated from Las Vegas to Washington and Asia, the board of casino operator Wynn Resorts Ltd. had come under fire for weak corporate governance and deference to its founder and chairman.

The board, which oversees an $18.5 billion company with casinos in Las Vegas and the Chinese territory of Macau, has been criticized for overpaying Wynn and other executives while allowing perks such as corporate jets and a land deal between the company and its founder. Wynn shares sank as much as 7.3 percent to $167.06 Monday after a 10 percent decline on Friday.