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Casino Mogul Steve Wynn Resigns as CEO of Wynn Resorts After Sexual Harassment Allegations

The casino mogul behind some of Las Vegas’ most prominent casinos resigned from his position as CEO and board chairman of Wynn Resorts on Tuesday, less than two weeks after a Wall Street Journal story detailed decades of sexual harassment and assault allegations, including accusations that Wynn used his power to pressure employees into sex acts.

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Wynn has maintained his innocence. “In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity,” he said in a statement released by Wynn Resorts. “As I have reflected upon the environment this has created—one in which a rush to judgement takes precedence over everything else, including the facts—I have reached the conclusion I cannot continue to be effective in my current roles.”

Wynn had called the allegations fabrications, telling the Journal, “the instigation of these accusations is the continued work of my ex-wife Elaine Wynn, with whom I am involved in a terrible and nasty lawsuit in which she is seeking a revised divorce settlement.” (Elaine Wynn has said in a statement that “this assertion is categorically untrue.”)

After the allegations came to light, stocks in Wynn Resorts plunged.*

In late January, just a day after the Journal report, Wynn, a major Republican donor, stepped down from his position as the finance chair of the Republican National Committee. President Trump, who had picked Wynn for the role, allegedly supported Wynn’s decision to resign because of the potential political fallout.

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Correction, Feb. 7, 2018, at 10 a.m.: This post originally misstated that Wynn Resorts owned the casinos Mirage, Treasure Island, and the Bellagio. Wynn founded these casinos, but his company does not own them.

Update, Feb. 7, 2018, at 11:30 a.m.: This post has been updated with a response from Elaine Wynn.