Investing.com - Steve Wynn has stepped down as CEO of Wynn Resorts, the company said in a press statement on Tuesday.
Sexual-misconduct allegations have swirled around Steve Wynn for a week and a half after WSJ detailed myriad allegations which he has denied. The Wynn Resorts board "reluctantly announced" Tuesday night he will give up the chairman and CEO posts there.
The statement says nothing of the allegations, but heaps praise on his career in Las Vegas. But Wynn himself says that amid the maelstrom, "I have reached the conclusion I cannot continue to be effective in my current roles." Wynn Resorts shares are down nearly 20% since the WSJ report.