Casino mogul Steve Wynn resigns amid sex misconduct claims

FILE - This March 15, 2016, file photo, shows casino mogul Steve Wynn at a news conference in Medford, Mass. Wynn Resorts is denying multiple allegations of sexual harassment and assault by its founder Steve Wynn, describing it as a smear campaign related to divorce proceedings from his ex-wife. The Wall Street Journal reported Friday, Jan. 26, 2018, that a number of women say they were harassed or assaulted by the casino mogul. Wynn denied the allegations personally in a printed statement. (AP Photo/Charles Krupa, File)

LAS VEGAS (AP) — Casino mogul Steve Wynn has resigned as chairman and CEO at Wynn Resorts amid sexual misconduct allegations.

Wynn Resorts says Tuesday the resignation is effective immediately.

The Wall Street Journal reported Jan. 26 that a number of women said Wynn harassed or assaulted them and that one case led to a $7.5 million settlement.

The Las Vegas billionaire has vehemently denied the allegations, which he attributes to a campaign led by his ex-wife.

He also faces investigations by gambling regulators in two states.

The board of directors for Wynn Resorts has appointed Matt Maddox, currently president of the company, as its CEO effective immediately.

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