Wynn pays record $35.5M fine to Massachusetts

Wynn Resorts has paid a record $35.5 million in fines to Massachusetts and won't appeal the decision.

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The company's board of directors said the company on Tuesday paid the state a $35 million fine as well as $500,000 assessed to CEO Matthew Maddox ahead of Friday's deadline to pay the fines or appeal.

The state's Gaming Commission says it received the payment. It fined the company and Maddox last month for failing to disclose allegations of sexual misconduct against company founder Steve Wynn.

Steve Wynn has denied the sexual misconduct allegations against him but resigned as CEO last year.

The company's Encore Boston Harbor casino is set to open June 23.

Wynn Resorts had been negotiating to sell the $2.6 billion Everett facility to MGM Resorts, but those talks ended recently.