Casino billionaire and former Republican National Committee finance chairman Steve Wynn is reported to have lost $462 million since allegations of sexual misconduct were made against him.
The value of his company’s shares has plummeted since the allegations materialized, according to reports.
Both Wynn Resorts and Mr Wynn have vehemently denied the misconduct allegations which are now being investigated by a committee of independent directors headed by Patricia Mulroy, a former member of the Nevada Gaming Commission.
Mr Wynn (left, with Donald Trump in 2012) was at one point close to the man who is now U.S. President, but their relationship more recently has become far more strained
Mr Wynn and wife Andrea Hissom were at one point a regular visitors to the White House
Chomping at the bit: Wynn (above in 2014) has denied all the allegations being made against him, saying his wife is out to get him
Support system: Wynn married his first wife Elaine (left) in 1963, divorced her in 1986, remarried her in 1991 and divorced her once again in 2010. The pair are pictured here in 2005
Viva: In a recent court filing, his ex-wife Elaine alleges that a $7.5million payout was made in 2007 to a manicurist he forced into having sex with him at his Las Vegas property (above)
Wynn was picked for the position by President Trump, and his replacement has not yet been announced.
It comes after Democrats urged Republicans to return donations the billionaire made to their party.
Their demands followed Republicans’ requests that all contributions to Democratic causes given by former producer Harvey Weinstein be returned after he was accused of sexual assault last fall.
Wynn was forced to resign from his RNC position – for which he was personally picked by President Trump – on Saturday because of the misconduct allegations.
The Wall Street Journal said that it carried out dozens of interviews with people who it said had corroborated his decades-long pattern of sexual misconduct with female employees. The allegations include a multi-million-dollar settlement with a manicurist, the paper reported.
The newspaper said that Wynn’s actions were so well known that employees would sometimes enter fake appointments in the books to help other female workers avoid him.
One worker said that she was coerced into performing a sex act on Wynn, 76, with her hand at the end of his massages, adding that Wynn asked at one point if she could use her mouth rather than rubbing his penis to climax when they were done with the session.
That woman refused, but in 2005 another employee was not able to decline Wynn’s alleged advances when he ordered her to disrobe and lie on a table so they could have sex.
She reported Wynn and received a $7.5million settlement, which was revealed by Wynn’s ex-wife Elaine in court papers.
Wynn has also been accused by several employees of parading around his casino in short shorts and no underwear at times, with workers in the spa stating that his genitals would be hanging out and on full display at times.
There are also allegations that he tried to get intimate with female workers he could not get alone in a room with him by kissing them in what they describe as sudden attacks that came out of nowhere.
Both Wynn and his company have insisted the allegations are part of a smear campaign related to his divorce proceedings.
Wynn, chairman and CEO of the company he founded, is according to Fox News ‘a titan in Las Vegas [who] played a major role in the revitalization of the Las Vegas Strip in the 1990s’.
It was Wynn’s company that constructed the Golden Nugget, The Bellagio and Mirage Resorts in the heart of town.
Wynn married his first wife Elaine in 1963, divorced her in 1986, remarried her in 1991 and divorced her once again in 2010.
He married second wife Andrea Hisson, 54, in 2011, and the pair are close friends with President Trump and the First Lady.