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Mass. Gaming Regulators Are Hitting Wynn Resorts With A Historic Fine. Is It Enough?
Wynn Resorts will pay a $35 million fine, but the company will be allowed to keep the license for its Encore Boston Harbor Casino in Everett.
This is despite the Massachusetts Gaming Commission's serious concerns about the company concealing information during the application process about sexual harassment allegations against company founder and then-CEO Steve Wynn.
They're also personally fining Wynn's current CEO Matt Maddox $500,000.
The fine is $15 million more than the industry record penalty Nevada regulators charged the company earlier this year for essentially the same violations.
And it's a fraction of what the company brings in each year in profits.
The company still plans to open the $2.6 billion Everett casino in June.
Guests
Rick Velotta, reporter and assistant business editor at the Las Vegas Review-Journal. He tweets @RickVelotta.
Joan Vennochi, Boston Globe columnist. She tweets @Joan_Vennochi.
This article was originally published on May 01, 2019.
This segment aired on May 1, 2019.
