Steve Wynn Resigns as Wynn Resorts CEO; Matt Maddox Takes Over

Steve Wynn reportedly resigned today as CEO of Wynn Resorts amid accusations of sexual misconduct that began circulation in January. 
Photo by Wynn Resorts

Steve Wynn has resigned as CEO and chairman of the board of major Las Vegas hotel company Wynn Resorts. The company’s board of directors reports that it has appointed current Wynn Resorts President Matt Maddox as CEO, and Boone Wayson as non-executive chairman of the board.

Wynn’s resignation comes not long after The Wall Street Journal published allegations of sexual misconduct over the past few decades by dozens of people who have worked at Wynn’s casinos, some of whom alleged he pressured employees to perform sex acts. In a written statement Wynn told the Journal that the accusations are the work of his ex-wife, with whom he is involved in a lawsuit, and that the “idea that I ever assaulted any woman is preposterous.”

“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity,” Wynn said in a statement announcing his resignation. “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 Las Vegas Wynn has designed, built and operated the Mirage, Treasure Island, Bellagio, Wynn Las Vegas and Encore at Wynn Las Vegas resorts, Wynn Resorts said. He has also opened resorts in Macau and Cotai.

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