Nevada Official: Steve Wynn Agreed to $10 Million Fine After Witness List Included Ex‑Wife
Steve Wynn paid a $10 million penalty in 2023 only after regulators signalled they would call his ex‑wife as a witness, a Nevada gaming board member said Friday.
LISTEN TO THIS ARTICLE:George Assad, a member of the Nevada Gaming Control Board, disclosed the negotiating turn at the State Bar of Nevada’s annual Gaming Law Conference, saying the settlement with casino developer Steve Wynn came after a last‑minute tactical move. In July 2023, the Nevada Gaming Commission accepted a recommendation from the Control Board that resulted in Wynn, as an individual, paying $10 million and severing his industry ties. Wynn admitted no wrongdoing as part of that resolution.
Assad described how he and former chair Kirk Hendrick, after reassessing prior settlements, concluded the earlier penalties had not fully resolved the matter. Wynn Resorts had previously paid $20 million in 2019 for failing to investigate employee sexual‑misconduct allegations involving Steve Wynn, and Massachusetts imposed a separate $35 million sanction that also barred the Wynn name from Encore Boston Harbor.
Recalling the negotiation, Assad said: “We dug into the case and went back and forth in negotiations, and he just didn’t want to pay. It drags on and drags on, and finally Kirk comes up with the idea – let’s send his lawyers and him a courtesy copy of the list of witnesses we’re going to call before the Gaming Commission. The number‑one witness was Elaine Wynn. Guess what. The check was there in two days.”
Assad did not temper his criticism of Wynn’s legacy. “I’m proud to say the Nevada Gaming Control Board was able to eliminate this piece of garbage from Nevada,” he said. “He is living in Florida now, thank God. The rest is history.” He also questioned the narrative of Wynn as a visionary, citing banker E. Parry Thomas’s role in the developer’s rise.
More Regulation News
Regulation
Bulgarian Parliament Rejects Proposal to Centralize Gambling Under State Control
Dec 04, 2025Regulatory Focus Shifts to Anti‑Money‑Laundering Enforcement
Assad used the conference platform to broaden the conversation to anti‑money‑laundering (AML) enforcement across the Las Vegas Strip, warning operators that repeated lapses could invite deeper federal involvement. He pointed to a recent string of substantial fines tied to AML failures: MGM Resorts International was fined $8.5 million after dealings with an illegal bookmaker; Caesars Entertainment was fined $7.8 million; Resorts World Las Vegas was fined $10.5 million; and Wynn Resorts faced a $5.5 million penalty and forfeited $130 million to the federal government related to unregistered international money transfers.
The board has also moved to use Nevada’s Black Book – the state’s exclusion list for individuals banned from casinos – to target those tied to illicit flows. Last week, the Control Board nominated Wayne Nix for Black Book consideration in the MGM case. A hearing on Nix is pending, and in January, the board will consider Matthew Bowyer, accused of taking illegal wagers with Caesars and Resorts World.
“The Nevada Black Book one is one of the most important tools the Nevada Legislature gave us to keep Nevada on the straight and narrow”, Assad said. He argued the list remains vital to protect the industry’s integrity and to avoid federal intrusions.
Assad urged casinos to strengthen compliance, telling industry counsel: “The message is for C‑Suite executives is to pay attention, to know your customer, know their source of funds, and do risk assessments. Employees need to be better trained.” He added a pointed assessment of corporate accountability: “I’m sorry. It’s not a divided risk that starts with the cage and the dealer... Ultimately, somebody has to be held responsible – the chief compliance officer and anybody who oversees the chief compliance officer.”
Highlighting persistent vulnerabilities, Assad warned of particular risks from foreign cash flows. “Watch out for the foreign money coming in and watch out for bill stuff and watch up front money coming in and little bit of a play and they cash out”, he said, noting that the mechanics of laundering are longstanding and evolving.
Assad’s remarks come as Nevada regulators increase scrutiny of how casinos police high‑value cash transactions and international transfers. The board’s recent enforcement actions and Black Book nominations signal a more assertive posture intended to preserve Nevada’s regulatory primacy and to deter what senior officials view as cultural laxity that once tolerated questionable patrons and transactions.
Upcoming board hearings in January will test how aggressively Nevada will wield its sanctions and exclusion powers against individuals and properties implicated in recent AML investigations.
RELATED TOPICS: Regulation
Latest News
Regulation
Bulgarian Parliament Rejects Proposal to Centralize Gambling Under State Control
Dec 04, 2025
Business
Phased Rise in Brazil’s Gaming Tax Set to Start in 2026 Under Senate Compromise
Dec 04, 2025Most Read
AGCO Launches Youth Compliance Monitor Program to Strengthen Underage-Protection Checks
Dec 02, 2025UKGC Tightens Oversight of Adult Gaming Centres as Funding Boost Targets Illegal Gambling
Dec 04, 2025Must Read
Interviews
Exclusive Interview: Levon Nikoghosyan Shares AffPapa Winning Formula for Successful iGaming Events
Dec 03, 2025
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Nevada Official: Steve Wynn Agreed to $10 Million Fine After Witness List Included Ex‑Wife