Attorneys of former casino operator and billionaire Steve Wynn recently said that the Nevada Gaming Control Board (NGCB) has no jurisdiction over their client. They argued that Wynn doesn’t have a gaming license anymore that he could surrender to the authority and he is not associated with the Nevada gaming industry anymore.
The legal team sends the second reply
In their second reply, attorneys defended Wynn and asked for the compliant against their client to be dismissed. Their motion suggests the NGCB erroneously believes that Steve Wynn continued to have regulatory authority over the company he founded- Wynn Resorts.
Note that the Board brought a complaint against Wynn in October this year, labeling him “unsuitable to be associated with a gaming enterprise or the gaming industry as a whole.” It asked the Nevada Gaming Commission (NGC) to “fine Mr. Wynn a monetary sum” because of his sexual misconduct allegations brought on by several female employees.
Just a day before Thanksgiving, the Board submitted documents in court suggesting that the NCG should reject the initial legal arguments made by Wynn’s attorneys. They said that the definition of suitability created by the legislature has no relation with anyone’s temporal connection with a gambling license.
A legal tug-of-war continues
Attorneys on both sides are engaged in a bitter battle over the NGCB’s authority over Wynn. Donald Campbell and Colby Williams, who represent Steve Wynn in the case suggest that the NGCB is basing its arguments on a nonexistent administrative hold over their client. Therefore, the board must concede their defeat.
They added that the penal setting suggests fines and potentials revocations that don’t apply to their client since he doesn’t hold a license or a position at a gaming company anyway. The NGC will hold a hearing in the case on December 19, but the legal showdown between both sides is already making headlines.
In November, Wynn Resorts settled shareholder lawsuits related to Steve Wynn. Of the $41 million paid to the shareholders, $20 million came from Steve’s pocket. Investors filed these lawsuits after the Wall Street Journal reported in January 2018 that Steve was involved in numerous cases of sexual misconduct at his workplace over the year.
These cases concluded that the company’s board didn’t monitor their founder and CEO’s behavior because of which the company shareholders had to suffer severe financial damage. The company expects a higher EBITDA for October via its Macau properties.