US District Court Judge Anne Traum has denied Wynn Resorts’ motion to dismiss a two-year-old lawsuit against the operator which alleges it failed to investigate the source of funds gambled and lost by David Bunevacz between 2018 and 2019.
James Bay Resources and President Stephen Shefsky filed the lawsuit in October 2024, having loaned $3.5m to CB Holdings Group and Brutus California Ventures, both of which are controlled by Bunevacz.
Bunevacz was later accused of being involved in a ponzi scheme where he sought investors to begin marketing cannabis vape pens and was on probation at the time in which the alleged funds were lost.
Wynn is accused of failing to report huge gambling losses to the Financial Crimes Enforcement Network, with Traum choosing to dismiss claims of negligence and unjust enrichment but allowing a claim of the plaintiff’s receipt of stolen funds.
In additional legal troubles for the operator, a federal class action lawsuit was filed against Wynn Resorts in February after hacking group ShinyHunters allegedly stole over 800,000 documents containing customer records such as names and social security numbers.
The complaint alleges Wynn Resorts failed to provide “the identity of the cybercriminals who perpetrated this Data Breach, the details of the root cause of the Data Breach, the vulnerabilities exploited and the remedial measures undertaken to ensure such a breach does not occur again.
The operator reported its financial results for Q1 2026 on May 7, having increased consolidated revenue by 9.2% for a total of $1.9bn, while net income for the period rose 65.6% to $120.5m.
Wynn Resorts managed to increase operating income 5.2% for a total of $282.6m, despite 9.9% growth in its total operating expenses for Q1 to $1.6bn.
Wynn Resorts named Craig Fullalove as the operator’s new CFO on January 9, replacing Julie Cameron-Doe who will continue serving as an Advisor to Wynn Resorts once the transition takes effect
