LAS VEGAS (CelebrityAccess) Steve Wynn, facing an investigation from gambling regulators, has stepped down as chairman and CEO of Wynn Resorts.
The company announced Wynn’s resignation Feb. 6. The billionaire is facing allegations of sexual misconduct and a Wall Street Journal article recently reported that a number of women say Wynn harassed or assaulted them. One was paid a $7.5 million settlement, according to the paper.
“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity,” Wynn said in a written 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.”
The allegations have led to investigations in Nevada and Massachusetts, the latter where Wynn Resorts is building a $2.4 billion casino near Boston. Meanwhile, Macau’s Gaming Inspection and Coordination Bureau said its director and the city’s financial and economic secretary met with Wynn Macau Executive Director Linda Chen to explain the allegations and to demand Wynn provide them with any result or progress from the investigation, according to the Associated Press.
Wynn has denied the allegations, blaming it to a campaign led by his ex wife, Elaine Wynn.