The billionaire would pay $20 million in damages while an additional $21 million would come from insurance carriers on behalf of current and former employees of Wynn Resorts, the company said. Wynn Resorts agreed to make changes in its corporate governance as part of the settlement, including separating the roles of the chairman and the chief executive, according to the statement. He said it holds shares in Wynn Resorts with an estimated value of $23 million. “We are gratified that the reforms in this agreement and those undertaken following the initiation of our lawsuit will protect Wynn Resorts employees and shareholders against future harm,” he said. Wynn Resorts owns and operates Wynn Las Vegas, Encore Boston Harbor in Massachusetts, Wynn Macau and Wynn Palace, Cotai in Macau.

Source: Los Angeles Times November 28, 2019 23:26 UTC