Former casino mogul Steve Wynn, a prominent figure in the modern Las Vegas Strip, has reached a settlement with Nevada gambling regulators to stay out of the state's gambling industry following allegations of sexual misconduct against former employees. The settlement also includes a $10 million fine to be paid by Wynn to the state, pending final approval from the Nevada Gaming Commission. Wynn resigned as chairman and CEO of Wynn Resorts in 2018 after The Wall Street Journal published an article detailing sexual misconduct allegations against him. The claims included a $7.5 million settlement with a manicurist at Wynn Las Vegas, who accused him of forcing her into a sexual relationship. Despite the settlement, Wynn denied any wrongdoing, vehemently rejecting the allegations.

According to the settlement agreement signed on July 17, Wynn must completely refrain from any direct or indirect involvement with Nevada gambling companies, including financing, advertising, and consulting. The settlement aims to address the damage caused to the state's prized gambling industry due to the allegations. The agreement allows Wynn to maintain passive ownership of 5% or less in a publicly traded company registered with Nevada gambling regulators. However, any violation of the settlement terms may lead to further penalties and sanctions. The Nevada Gaming Commission also penalizes Wynn himself, acknowledging a pattern of reckless sexual conduct with subordinate employees, regardless of consensual claims. In 2019, the Commission imposed a record $20 million fine on Wynn Resorts after the company admitted to ignoring employee complaints. The settlement represents the culmination of a yearslong dispute between regulators and Wynn's attorneys over the investigation into the misconduct allegations. The final approval by the Nevada Gaming Commission is expected to be determined in a scheduled vote.

As part of the settlement, Wynn, 81, has effectively removed himself from Nevada's gambling industry, ending an era of influence for the casino magnate who played a pivotal role in shaping the modern Las Vegas Strip.