Wynn Tumbles After Macau Government Adds to Harassment Scrutiny

Wynn Macau says it will cooperate with enclave’s government
Regulators talked with Wynn management over harassment scandal

Bloomberg’s Daniela Wei looks at how the sexual harassment allegations against Wynn might affect his Macau business.(Source: Bloomberg)

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By Daniela Wei and Bruce Einhorn

January 29, 2018 at 3:19 PM UTC

Updated on

January 30, 2018 at 9:10 AM UTC

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Wynn Macau Ltd. said it will cooperate with regulators after the government of the Chinese territory voiced concern over sexual harassment allegations swirling around casino magnate Steve Wynn.

Macau regulators talked with Wynn management and want to make sure major shareholders, directors and key employees meet suitable qualifications, the Gaming Inspection & Coordination Bureau said in an email late Monday. Shares of Wynn Macau dropped 4.8 percent in Hong Kong on Tuesday, giving it the biggest two-day loss since 2014 on a closing basis.