Cy Waits reportedly fired from Wynn, Paris Hilton denies cocaine

Could one mistake have cost one of Las Vegas’s nightclub moguls his high-profile job?

After getting arrested with girlfriend Paris Hilton, several sources are reporting that Cy Waits has been let go of his duties as managing partner of Tryst (at Wynn Las Vegas) and XS (at Encore).  No word yet on the status of his twin brother Jesse, who co-manages.

For her part, Hilton (who will be tried for felony drug possession) is now denying that she ever had cocaine in her purse.  And in fact, it wasn’t her purse.  Except for the stuff inside it.  Except the cocaine.  Because she thought that was gum.

Really.