Steve Wynn Resigns From His Company After Sexual Misconduct Allegations

MEDFORD, MA - MARCH 15: Steve Wynn speaks to reporters about a planned casino in Everett during a press conference in Medford, Mass., on March 15, 2016. (Photo by Jessica Rinaldi/The Boston Globe via Getty Images)
February 7, 2018 8:03 a.m.

Steve Wynn on Tuesday stepped down as CEO of his company, Wynn Resorts, about a week and a half after the Wall Street Journal published a report with sexual misconduct allegations against Wynn from several women.

In a statement Tuesday, Wynn said that he was a distraction to the company, citing “negative publicity” and a “rush to judgement.”

“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,” Wynn said in a statement. “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.”

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Wynn, a close ally of President Donald Trump, resigned as finance chair of the Republican National Committee shortly after the allegations surfaced.

The casino mogul denied the allegations surfaced by the Wall Street Journal, which reported that Wynn paid a $7.5 million settlement to a manicurist he allegedly pressured into having sex with him.

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