Wynn Resorts has announced that one of its top executives, Kim Sinatra, is to leave her role at the company, as investigations into allegations of sexual harassment continue.
In a brief filing with the Securities and Exchange Commission the firm simply stated: “On July 5, 2018, Wynn Resorts Limited announced that Kim Sinatra will cease to serve as the Company’s Executive Vice President, General Counsel and Secretary, effective July 15, 2018. Ms. Sinatra and the Company have not finalised the terms of her transition and departure”.
Widely regarded as one the highest paid executive on the Las Vegas strip last year, reportedly netting approximately $13.3m, it brings to an end a fourteen year stay at the firm as the fallout continues to be felt across Wynn.
The turbulent year began back in January when the allegations first surfaced in the public arena, with founder and CEO Steve Wynn resigning from the casino entertainment business a month later.
A statement released at the time read: “It is with a collective heavy heart, that the board of directors of Wynn Resorts [has] accepted the resignation of our founder, CEO and friend”.
Just a month later the deposed CEO sold his 12 per cent stake for in the region of $2m, before an internal power struggle saw legacy direct John Hagenbuch drop his bid for re-election to the board of directors.
Wynn Resorts is expected to open its $2.5bn development in Everett, Massachusetts next year, with a renaming of the project to Encore Boston Harbor aimed at deterring attention from the ongoing troubles.
