Steve Wynn steps down as CEO of Wynn Resorts amid sexual misconduct claims
LAS VEGAS – Casino mogul Steve Wynn has resigned as chairman and CEO at Wynn Resorts amid sexual misconduct allegations.
Wynn Resorts says Tuesday the resignation is effective immediately.
“The Board of Directors of Wynn Resorts reluctantly announced today that it accepted the resignation of Steve Wynn as CEO and Chairman of the Board of Directors,” Wynn Resorts said in a statement.
The Wall Street Journal reported Jan. 26 that a number of women said Wynn harassed or assaulted them and that one case led to a $7.5 million settlement.
The Las Vegas billionaire has vehemently denied the allegations, which he attributes to a campaign led by his ex-wife.
“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity,” Wynn said in a separate statement. “As I have reflected upon the environment this has created — one in which a rush to judgment takes precedence over everything else, including the facts — I have reached the conclusion I cannot continue to be effective in my current roles.”
He also faces investigations by gambling regulators in two states.
The board of directors for Wynn Resorts has appointed Matt Maddox, currently president of the company, as its CEO effective immediately.