Wynn Resorts CEO calls sexual misconduct accusations 'preposterous'; stock falls


(Reuters) – Las Vegas casino mogul Steve Wynn has routinely subjected women who work for him to unwanted sexual advances in a pattern of misconduct detailed by dozens of past and present employees, the Wall Street Journal reported on Friday, but the billionaire denied the accusations as “preposterous.”

Wynn is the founder, chairman and CEO of Wynn Resorts Ltd (WYNN.O), and the company’s stock fell more than 10.1 percent in heavy trading to close at $180.29 on the Nasdaq exchange on Friday after the report.

The Wall Street Journal said former and current company staff members it interviewed accused Wynn of creating a hostile work environment for women and of regularly pressuring employees to perform sex acts.

The report was the latest in a wave of sexual abuse and harassment allegations leveled against powerful men during the past year, especially in the media and entertainment industries and politics.

Wynn has straddled both those worlds, as a prominent figure in the…

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