Wynn Resorts Announces Scholarship Program as Steve Wynn Extortion Case Unfolds

Wynn Resorts has announced a $2 million scholarship fund to support the children of its USA employees. The initiative, named the Craig S. Billings Endowed Scholarship, will provide financial assistance to students pursuing undergraduate degrees at the University of Nevada, Las Vegas (UNLV).

In a separate development, a Las Vegas man has been arrested for allegedly running an extortion plot against mogul Steve Wynn. He served as Wynn Resorts CEO and Chairman of the Board before stepping down in 2018.

Wynn Scholarship for Employees’ Children

The Craig S. Billings Endowed Scholarship is designed to assist children of qualifying Wynn Resorts employees in the USA.

The scholarship supports students pursuing degrees at UNLV’s Lee Business School, Howard R. Hughes College of Engineering, and William F. Harrah College of Hospitality.

CEO Craig Billings expressed his pride in supporting employees’ families, stating, “It is such a privilege to be a colleague of the dedicated employees at the Wynn Resorts entities in North America.”

Billings, a UNLV graduate himself, emphasized the university’s role in shaping his career. UNLV President Chris Heavey welcomed the initiative, noting it helps remove financial barriers for students. “This scholarship helps remove that barrier for the children of employees at Wynn Las Vegas and Encore Boston Harbor,” Heavey said. He acknowledged that, despite 90% of UNLV undergraduates receiving financial aid, many still face high costs.

Scholarship Benefits and Eligibility Requirements

The scholarship program is now accepting applications for the 2026 academic year, open until February 28, 2026. The scholarship offers up to $7,500 per academic year for eligible Wynn Las Vegas and Encore Boston Harbor employees or their dependents. Applicants must be high school seniors or current college students planning to enroll in UNLV.

The program supports tuition, fees, and required educational materials but excludes room and board. Recipients must maintain a minimum GPA of 3.0 and complete 20 volunteer hours to remain eligible.

Arrest in Steve Wynn Extortion Case

In a troubling turn of events, Michael Loizias, a 43-year-old Las Vegas man, has been arrested for allegedly extorting Steve Wynn.

The extortion campaign reportedly began in October 2023, involving a series of threatening emails and letters demanding $1 million.

Loizias sent 79 emails in 2023 alone, filled with explicit threats.

On January 30, Wynn’s executive assistant reported the extortion to Palm Beach police. Loizias sent two packages containing menacing letters demanding payment and threatening action if Wynn did not comply. Loizias was arrested and charged with extortion and is currently held on a $50,000 bond.