Steve Wynn’s reputation will likely not recover, says Vegas reporter

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Steve Wynn’s status will doubtless not get well if sexual harassment allegations take a look at, stated veteran Las Vegas reporter Jon Ralston.

“There is no such thing as a greater title within the on line casino enterprise than Steve Wynn,” stated Ralston, who has been overlaying enterprise and politics in Nevada for 30 years and has interviewed Wynn himself a number of instances over time.

“His title is synonymous, not simply because that on line casino says ‘Wynn’ on high of it,” Ralston advised CNBC Friday night time on “Quick Cash.” “Steve Wynn is the most important title within the historical past of Nevada gaming.”

“He’s the person behind that [empire] and it is arduous to consider that it might not take a success if one thing occurs to him,” Ralston stated.

Nonetheless, the reporter, who can be the founder and editor of the impartial information web site The Nevada Unbiased and an everyday contributor to Politico, admitted he does not know sufficient concerning the “inner workings” of Wynn Las Vegas resorts and whether or not the corporate would be capable of survive if Wynn’s status was broken.

Shares of Wynn Resorts fell 10 p.c on Friday after The Wall Avenue Journal broke the story earlier that day concerning the 76-year-old billionaire on line casino mogul and CEO of Wynn Las Vegas, reporting a number of allegations sexual misconduct from Wynn that will span a long time.

Wynn launched a press release saying, “”the concept that I ever assaulted any lady is preposterous. … We discover ourselves in a world the place folks could make allegations, whatever the fact, and an individual is left with the selection of weathering insulting publicity or partaking in multi-year lawsuits. It’s deplorable for anybody to seek out themselves on this state of affairs.”

Wynn blamed his ex-wife Elaine for stirring up bother. The couple is presently in the course of a lawsuit. However Ralston stated the Journal extra doubtless started an investigation due to the present political atmosphere and issues just like the #MeToo motion, Ralston stated.

“The divorce definitely is nasty,” Ralston stated. “There definitely isn’t any love misplaced between the 2 of them. However here’s what I do know. On this new environment of sexual harassment being a giant deal within the political, social consciousness of this nation, the Wall Avenue Journal began engaged on items simply as we now have and lots of different information organizations have. There have all the time been rumors about sexual harassment within the context of the on line casino enterprise. My guess is that they began engaged on this story based mostly on that. Not based mostly on being fed data by Elaine Wynn.”

The Journal didn’t reply to a request for remark. In its story, the Journal stated it contacted greater than 150 previous and current staff and located dozens that advised tales of sexual misconduct. Many individuals who spoke stated they had been apprehensive speaking to the media would harm future job prospects as a result of Wynn is so well-connected in Las Vegas.

“A few of these sorts of rumors or allegations have been on the market earlier than,” Ralston stated, referencing the Nevada Unbiased columnist John L. Smith who wrote a e book that alluded to “some of these things.”

“It is going to be very, very tough for him to get away from that [Wall Street Journal article] although he has stated he by no means assaulted a lady,” Ralston stated.

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