Steve Wynn, who built several of the Strip’s most recognizable resorts that helped change gaming into a multibillion-dollar industry, has a new distinction added to his biography.

Following a brief hearing in Carson City Thursday, the Nevada Gaming Commission fined the former gaming mogul $10 million — the largest individual disciplinary penalty ever handed down by state regulators — to settle a four-year-old complaint over allegations of sexual abuse and misconduct against female employees during his time as chairman and CEO of Wynn Resorts.

Shortly after the charges were raised in a 2018 Wall Street Journal article, Wynn — developer of The Mirage, Treasure Island and Bellagio, in addition to Wynn Las Vegas and Encore — resigned from the company he founded, sold his stock and relinquished his state gaming license.

“It’s a huge blemish on the industry,” gaming commission member Rosa Solis-Rainey said during the hearing. “While Mr. Wynn made some incredible contributions, the nature of the allegations that were made warrant at least the amount of the fine that was negotiated. I don't have a problem with the amount, and it’s in everybody's best interest that we move forward.”

Commissioners took less than 10 minutes to approve the settlement between Wynn and the Gaming Control Board that stemmed from a five-count complaint filed in October 2019 against the former casino operator that also sought to find him unsuitable to be involved in Nevada’s casino industry.

Under terms of the settlement, Wynn agreed to never again have any involvement in the state’s gaming industry. Wynn, 81, has since moved to Florida.

In a statement released following the hearing, board Chairman Kirk Hendrick said the agency was satisfied with the settlement agreement.

“Closing this dark chapter in Nevada’s gaming history allows more time for the board to continue effectively and efficiently regulating Nevada’s most important industry,” Hendrick said.

First Assistant Attorney General Craig Newby reminded the Gaming Commission during the hearing that Wynn Resorts paid a $20 million fine in February 2019 — the largest in Nevada history — to settle its 10-count complaint. Two months later, gaming regulators in Massachusetts fined the company $35 million over the misconduct claims.

“Adopting the company’s stipulation would bring the sordid affair to a conclusion,” Newby said.

A spokesman for Wynn Resorts declined to comment on the settlement.

During the brief hearing, commissioners didn’t speculate whether the fine should have been a larger amount, given Wynn Resorts has already paid out $55 million in total fines.

According to Forbes, Wynn has a net worth of $3.2 billion.

Commissioner Brian Krolicki asked the attorney general’s office “for context purposes” how the agency came up with the fine amount.

Newby said negotiations between the board and Wynn’s attorneys took place “over an extended period of time.” Wynn attorneys J. Colby Williams and Don Campbell attended the hearing but did not address the commission. Wynn did not attend the hearing.

Commissioner Ogonna Brown said she was giving “great deference” to the negotiations that led to resolving the matter, rather than holding a public disciplinary hearing.

“I appreciate your work being so diligent so that we don't have to air our dirty laundry today and we can move forward in a positive direction,” Brown said.

The 4-0 vote didn’t include commission Chairwoman Jennifer Togliatti, who said at the outset she had recused herself from voting on the Wynn matter going back to February because of a conflict.

“However, I am advised by the attorney general’s office that my recusal does not limit my ability to chair this agenda item,” Togliatti said.

Under terms of the settlement, Wynn agreed to never serve as an officer or executive with a Nevada gaming company but is not precluded from having “passive ownership” of less than 5 percent of any licensed gaming company.

Editor’s Note: Campbell & Williams, the law firm representing Steve Wynn, has in the past provided The Nevada Independent with pro bono legal services and advice.