Shares of Wynn Resorts Ltd. slid about 6% Friday, after The Wall Street Journal said owner, the billionaire casino mogul Steve Wynn, has a long history of sexual conduct and of pressuring his employees to perform sex acts. Wynn denied the allegations, telling the paper, “The idea that I ever assaulted any woman is preposterous.” He blamed the accusations on this ex-wife Elaine Wynn, who has filed a lawsuit seeking to revise the terms of their divorce settlement. The Journal said it spoke to about 150 employees, many of whom were worried that Wynn was so powerful that he could hurt their chances of being employed elsewhere. Shares have gained about 98% in the last 12 months, while the S&P 500 has gained 24%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News