Steve Wynn has resigned as chairman and ceo of Wynn Resorts, the high-profile, Las Vegas-based resort and casino operator that he created. The move comes in the wake of sexual misconduct allegations against Wynn that were first reported last month in The Wall Street Journal.
In a statement, Wynn said: “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—I have reached the conclusion I cannot continue to be effective in my current roles…”
In the same statement, the Wynn Resorts’ board said it reluctantly accepted Wynn’s resignation, and appointed Matt Maddox, currently the company’s president, as its ceo, and Boone Wayson as non-executive chairman of its board, effective immediately.
The company also said it will continue to focus on its operations at Wynn Macau in China, Wynn Palace in Cotai and Wynn Las Vegas; the development and opening of the first phase of Wynn Paradise Park, currently under construction on the former Wynn golf course in Las Vegas; as well as the construction of Wynn Boston Harbor, which is slated to open in June 2019. However, according to published reports, Massachusetts gaming regulators are reviewing the status of Wynn Resorts’ involvement in that project, in the wake of the allegations against Steve Wynn.