Steve WynnGetty Images / Ethan Miller
- Steve Wynn has resigned as CEO and chairman of Wynn Resorts.
- The billionaire mogul recently faced allegations of sexual misconduct.
- Wynn had admitted no wrongdoing and said in his resignation statement that there had been a “rush to judgment,” which he said took precedence over everything “including facts” with regard to the misconduct allegations.
- Matt Madox is the new Wynn Resorts CEO.
The CEO and chairman of Wynn Resorts, Steve Wynn, has resigned.
The company, which owns and operates Wynn and Encore Las Vegas, Wynn Macau, and Wynn Palace, Cotai, made the announcement “reluctantly” on Tuesday night. The news came fewer than two weeks after allegations of decades of sexual misconduct were made against Wynn.
“It is with a collective heavy heart, that the board of directors of Wynn Resorts today accepted the resignation of our founder, CEO and friend Steve Wynn,” the board’s non-executive director, Boone Wayson, said in a statement.
“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.”
Last month, The Wall Street Journal reported that Wynn had engaged in sexual misconduct for decades, regularly intimidating employees of his Las Vegas casinos into performing sex acts. Wynn responded by blaming the allegations on his ex-wife.
In announcing his resignation, Wynn did not admit to any of the alleged incidents, and instead said there had been a “rush to judgment” despite facts.
“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity. 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,” Wynn said in a statement released Tuesday night.
“I have reached the conclusion I cannot continue to be effective in my current roles. Therefore, effective immediately, I have decided to step down as CEO and Chairman of the Board of Wynn Resorts, a company I founded and that I love,” he said.
Last month, Wynn also resigned as the Republican National Committee’s finance chairman.
Earlier in his career, Wynn worked on some of Las Vegas’ most iconic resorts including the Mirage, Treasure Island, and the Bellagio.
The board has appointed Matt Maddox, currently president of the company, as its new CEO.
Leave a Reply
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
