Amid a wave after wave of sexual misconduct allegations that sprung up last week as a result of a Wall Street Journal investigation, Steve Wynn – one of the most pivotal and significant casino moguls in the world – has decided to resign from his position of a chairman and chief executive of Wynn Resorts.

The company's board had accepted Wynn's resignation “with reluctance” - as nonexecutive director of the board, Boone Wayson puts it: “Steve Wynn is an industry giant. He is a philanthropist and a beloved leader and visionary. He played the pivotal role in transforming Las Vegas into the entertainment destination it is today.”

76-year-old Wynn himself has denied that he has coerced multiple female co-workers into sex, calling the accusations against him “preposterous.” He added that he decided to step down because there is now an environment “in which a rush to judgment takes precedence over everything else, including the facts.”

The new CEO of Wynn Resorts will be Matt Maddox, who joined the company in 2002 and is currently the president of Wynn Resorts.

Allegations against Wynn claim that he has used his position to force female co-workers and employees into all sorts of lewd sexual behavior against their will for decades. Some of the accusations claim that he was pressuring them to undress in front of him, massage him and even masturbate or have sex with him. One of the victims, a manicurist who went to see him for an appointment in 2005, claims Wynn forced her to have sex with him on the massage table and after she filed an HR report, she was offered $7.5 million in settlement money by Wynn.

Steve Wynn was also a Republican Party donor and left the finance chairman position in the Republican National Committee one day after the allegations were published. Also, another separate investigation will be soon conducted by the Massachusetts Gaming Commission since Wynn has begun building a multibillion-dollar casino in the vicinity of Boston.

Source:

“Steve Wynn Resigns From Company Amid Sexual Misconduct Allegations”, Creswell Julie, nytimes.com, February 6, 2018.