Casino mogul Steve Wynn resigns amid sex misconduct claims

2018-02-07 07:29
Casino mogul Steve Wynn at a news conference. (Charles Krupa, AP, file)

Casino mogul Steve Wynn at a news conference. (Charles Krupa, AP, file)

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Las Vegas - Casino mogul Steve Wynn resigned on Tuesday as chair and CEO of Wynn Resorts amid sexual misconduct allegations.

"In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity," Wynn said in a written statement on Tuesday.

"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."

READ: Casino mogul Steve Wynn resigns as top GOP finance chair over sex allegations

The Wall Street Journal reported on January 26 that a number of women said Wynn harassed or assaulted them and that one case led to a $7.5m settlement.

The Las Vegas billionaire has vehemently denied the allegations, which he attributes to a campaign led by his ex-wife.

In January, Wynn resigned as finance chair of the Republican National Committee.

Since 2013, Wynn has contributed nearly $2.4m to GOP candidates and party organisations around the country, including Nevada Governor Brian Sandoval and 2017 special election winners.

Some Republicans in Congress, including Nevada's Dean Heller, have already announced they are donating contributions they received from Wynn to charity.

Wynn also faces investigations by gambling regulators in two states.

The board of directors for Wynn Resorts has appointed Matt Maddox, currently president of the company, as its CEO effective immediately.

Details of Wynn's separation agreement were not immediately disclosed.

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