Las Vegas casino mogul and GOP mega-donor Steve Wynn has stepped down as head of his resort company after allegations that he sexually harassed and covered up accusations for decades.
“It is with a collective heavy heart that the board of directors of Wynn Resorts today accepted the resignation of our founder, CEO and friend Steve Wynn,” Boone Wayson, the non-executive director of Wynn Resorts board of directors, said in a statement Tuesday evening.
Wynn continues to deny the allegations, but suggested in a statement to the board that he didn’t want to damage the company’s image. He also decried the climate the “me too” movement has created.
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“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity,” Wynn said. “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. 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.”
Wynn’s departure from his company continues his withdrawal from public-facing roles. Wynn saw his net worth plummet by at least $250 million after stock in his company, Wynn Resorts, dropped 10 percent following the Wall Street Journal’s report of the allegations, Forbes magazine reported.
Within 24 hours of the Wall Street Journal’s report, which alleged that Wynn pressured a massage therapist and a manicurist to have sex with him on multiple occasions and engaged in harassing behavior toward subordinates, Wynn resigned his position as finance chair of the Republican National Committee.
Las Vegas Review-Journal said Monday it halted publication of a 1998 story that would have exposed allegations of sexual harassment by Wynn, including how he attempted to pressure a cocktail waitress and a server into sex. He allegedly told the server, who had been talking about her grandchildren, that he’d like to know what sex with a grandmother is like.
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