BREAKING NEWS: Steve Wynn steps downs as Wynn Resorts CEO

Macau (MNA) – Steve Wynn announced on Tuesday that he has filed his resignation as CEO and Chairman of the Board of Directors of Wynn Resorts.

“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. 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 in a Wynn Resorts release.

The announcement follows in the wake of a series of sexual misconduct allegations against the group founder and Chairman of the Board of Directors, initially revealed by The Wall Street Journal.

Wynn Resorts has appointed Matt Maddox as CEO, with D. Boone Wayson being appointed as Non-Executive Chairman.

Wynn Resorts stated it remained ‘committed as ever to upholding the highest standards and being an inclusive and supportive employer’ and that ‘more than 40 per cent of all Wynn Las Vegas management are women, the highest in the gaming industry’.

‘The company will continue to fully focus on its operations at Wynn Macau, Wynn Palace 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; as well as the construction of Wynn Boston Harbor, which will open in June 2019,’ the group announced.