Wynn is building a new hotel at the old Frontier site (& now we discuss Steve's debauchery) - Page 3 - Las Vegas Lifestyle Forum - Las Vegas Entertainment and Living Information

Not entirely true. Confidence in the CEO's ability to execute is a big factor as well, and if half of the company is going to be reluctant to follow his orders or finding creative ways to circumvent them, it can be a problem organizationally.

I fully agree with you. I just don’t think sexual misconduct or whatever this case is, is enough to say he can’t lead the company. I mean Wynn is well known for keeping high end escorts at his properties to cater to clientele. Again, if the blowback continues and proves a distraction and or losing them money, then I could see him being replaced.

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01-29-2018 , 07:17 PM

#52

madlex

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Originally Posted by Bdywax

Investors don’t care about this crap, they only care about returns.

That's true for some, but not all. The number of ethical funds is growing. The only question is how many of those would be allowed to invest in a gambling company in the first place.

[sidenote: the worlds largest sovereign wealth fund with over $1 trillion in assets, the Norwegian Government Pension Fund Global is such an ethical fund]

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01-29-2018 , 07:48 PM

#53

Videopro

Making TV

Join Date: Oct 2002 Posts: 19,241

Interesting read : https://vitalvegas.com/steve-wynn-se...mpression=true

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01-30-2018 , 05:33 PM

#54

eco74

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Originally Posted by Bdywax

I think the only way he gets ousted is if keeping him proves to be a financial liability and or more allegations continue to surface and the board is getting pressure. Investors don’t care about this crap, they only care about returns.

At this time even last year I would agree with you, but I think those days are largely over and think he's going to get shown the door soon enough. They don't need him, the company won't fold up without him, and he's now nothing but bad press. It would only be a different story if the continued operation of the company relied on him, and it doesn't.

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01-30-2018 , 09:12 PM

#55

pocket_zeros

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LVRJ: Wynn could face steep fine, license revocation, ex-Control Board chief says

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01-31-2018 , 10:09 AM

#56

pocket_zeros

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Bloomberg: Nevada Regulator Investigates Wynn, Raising Chance of Ouster

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01-31-2018 , 05:21 PM

#57

eco74

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Temperature is rising.

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02-01-2018 , 02:38 PM

#58

DisRuptive1

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How does the assault/coercion/rape of a woman affect a gambling license? I don't see the link.

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02-01-2018 , 03:44 PM

#59

madlex

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Originally Posted by DisRuptive1

How does the assault/coercion/rape of a woman affect a gambling license? I don't see the link.

The Nevada Gaming Commission has the power to remove somebody who doesn’t operate their business in a “manner suitable to protect the public health, safety, morals, good order and general welfare”. That part of their regulations has been quoted in most articles on the topic.

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02-01-2018 , 05:06 PM

#60

callipygian

slowrolled by tpiranha!

Join Date: Mar 2009 Posts: 19,880

Quote:

Originally Posted by DisRuptive1

How does the assault/coercion/rape of a woman affect a gambling license? I don't see the link.

Blackmail potential.

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02-01-2018 , 05:32 PM

#61

chillrob

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Originally Posted by callipygian

Blackmail potential.

That seems less of an issue now that the info is public than when it was just rumored.

But I still think he should go and hope he does. I never got what anyone liked about him, always just seemed like a douchebag to me.

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02-01-2018 , 05:57 PM

#62

callipygian

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Join Date: Mar 2009 Posts: 19,880

Quote:

Originally Posted by chillrob

That seems less of an issue now that the info is public than when it was just rumored.

There's always the issue of secondary crimes. Like if you bang a porn star and then later decide to run for President and have to pay her off, you may end up being investigated for campaign finance stuff. Or even if the accusations are public, lurid details may be blackmailable (like if someone threatened to release a picture of Wynn's dong).

I suspect the wording of the Nevada statute is deliberately vague - whose morals get applied isn't spelled out in detail but it gives the Gaming Commission a pretty good blanket justification for anything they want.

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02-01-2018 , 07:16 PM

#63

pig4bill

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Originally Posted by madlex

Proof is required, right? Is there any?

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02-01-2018 , 07:40 PM

#64

jcorb

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The gaming industry runs the Gaming Commission, and the state legislature, and the attorney general's office, and the liquor control board, etc. etc.

They will push Mr. Wynn to the background, much like in the movie 'Casino' when they put Ace Rothstein as manager of food and beverage.

He will continue to run the company and make money. That is the way of the world. Just like a putz like Trump can be president.

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02-01-2018 , 07:44 PM

#65

leon

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Quote:

Originally Posted by jcorb

This. Nothing of consequence will happen to Steve Wynn. They'll make a big show of some mock disciplinary action and that'll be that.

At least in the old days he'd have a non-zero chance of ending up in hole in the desert. In this day and age, our version is forced retirement, at least to the public's eye.

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02-01-2018 , 07:49 PM

#66

TheCanoe

lazy degen

Join Date: Apr 2008 Posts: 11,672

I guess I’m a scumbag but I bought a **** ton of $WYNN stock after a 29% dip. Might have to start gambling there

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02-01-2018 , 08:03 PM

#67

jcorb

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buy low sell high

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02-01-2018 , 08:37 PM

#68

lvBlitzforce

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Join Date: May 2014 Posts: 1,202

He's been having meetings with all wynn employees the past few days to discuss whats going on, the future, and more importantly sticking to his innocence. Which is pretty rare as hes usually never even been seen by employees let alone now him with a mic now talking to them. I have a feeling he'll get hit with some fines, maybe a few lawsuits, and after everything is said and done he'll be fine.

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02-01-2018 , 08:58 PM

#69

pocket_zeros

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Quote:

Originally Posted by pig4bill

Proof is required, right? Is there any?

There's a rumored $7.5 million payoff. That's enough to warrant an investigation by the gaming authority. If that happens I suspect Wynn will bow out before allowing it to conclude, assuming he's actually guilty of what he's accused of and doesn't want more details coming to light.

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02-01-2018 , 11:22 PM

#70

jcorb

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he probably got the $7.5 mil from under the cushions on his sofa.

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02-02-2018 , 12:12 AM

#71

grando1.0

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I'm pretty sure he's got about that much from me. **** that place lol.

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02-02-2018 , 06:49 AM

#72

PeteBlow

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Crikey.
For $7.5m, I’d give the guy a hand job.

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02-02-2018 , 12:13 PM

#73

madlex

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Originally Posted by pig4bill

Proof is required, right? Is there any?

Not sure if you are serious, but there’s obviously no proof required. It’s a Gaming Commission, not a court of law. (And not even they require proof)

They had the CG Technology CEO removed over claims that customers were systematically underpaid.

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02-02-2018 , 02:34 PM

#74

MindSoak

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Join Date: Feb 2017 Posts: 20

I get the feeling this one might quietly go away. In current media there seems to be this phenomenon of collective outrage that gets everyone's attention until something else shiny comes along. For example, there's not much news about Harvey Weinstein lately and he apparently was a huge predator towards a lot of famous women.

I would imagine Wynn has some pretty close ties to the various gaming commission members, so can't see anything too drastic coming out of those investigations.

Also add in the fact that he's 76 years old, there must already be some succession plans in place for a publicly-listed $15b company which allows him to quietly step down if need be.