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Wynn Resorts, Limited

WYNN

Consumer Discretionary

3

exclusion reasons

2 themes

Corporate Misconduct (2) Harmful Products (1)
WYNN Consumer Discretionary Current as of April 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Gambling Operations
Since Mar 8, 2026

Wynn Resorts operates large-scale casino resorts in Las Vegas (Wynn Las Vegas, Encore), Macau (Wynn Macau, Wynn Palace), and Boston (Encore Boston Harbor). The company reported $7.13 billion in total revenue for fiscal 2024, with casino operations contributing approximately $4.3 billion (60% of revenue), up 14.6% year-over-year. Wynn Resorts holds gaming licenses in Nevada, Massachusetts, and Macau SAR.

The company has faced repeated regulatory action tied to its founder Steve Wynn. The Massachusetts Gaming Commission fined Wynn Resorts $35.5 million in 2019 for failing to disclose sexual misconduct allegations against Steve Wynn during its license application. Nevada fined Wynn Resorts $20 million in 2019 for failure to investigate misconduct complaints. Steve Wynn personally paid a $10 million fine in 2023 and was permanently barred from Nevada gaming. In 2025, Wynn Las Vegas forfeited $130 million to the DOJ and paid a $5.5 million Nevada fine for facilitating unlicensed money transfers to foreign gamblers.

Workplace Discrimination
Since Mar 8, 2026

Wynn Resorts carries $55 million in employment discrimination penalties across two separate findings — $35 million assessed by the Massachusetts Gaming Commission in 2019 and $20 million assessed by the Nevada Gaming Control Board in 2019 — both arising from investigations into the company's workplace culture following the resignation of founder Steve Wynn amid allegations of pervasive sexual misconduct toward employees over several decades. These are two independent regulatory findings from two separate state jurisdictions, covering the Nevada and Massachusetts operations respectively, and both reached dispositive conclusions within the same calendar year. The EEOC separately sued Wynn Las Vegas in 2016 for refusing to accommodate a disabled veteran employee with PTSD who had requested a modified schedule and was subsequently suspended after filing a discrimination complaint. Violation Tracker records 17 employment-related offense records against Wynn Resorts totaling $61.4 million.

Corruption & Fraud
Since Mar 8, 2026

Wynn Resorts, Limited has been the subject of multiple federal investigations concerning potential violations of the Foreign Corrupt Practices Act (FCPA). The U.S. Securities and Exchange Commission (SEC) has investigated donations made by the company, with one inquiry examining a $135 million charitable contribution that may have implicated FCPA issues.

In September 2024, the company's Las Vegas casino subsidiary, Wynn Las Vegas, agreed to forfeit $130,131,645 to settle a federal investigation. The U.S. Department of Justice found the company had illegally conspired with and later compensated a former customer who was convicted of running an illegal sportsbook operation from its suites, constituting a conspiracy to violate anti-money laundering reporting requirements. This settlement represents one of the largest corporate forfeitures in a gaming-related case.

Research Sources 17 organizations

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.