Subscribe
Login
Hotels

Steve Wynn Is Out as Wynn Resorts CEO Effective Immediately

Deanna Ting

Photo Credit: Casino mogul Steve Wynn has resigned as CEO of Wynn Resorts following multiple accusations of sexual harassment. Blooomberg

Skift Take

Wynn's departure has us thinking about another hotelier (a hotel brand, really) with much less success in the gaming industry, and even more proof of having committed assaults against women. But, alas, it's proving much tougher to get him to resign.

Casino mogul Steve Wynn has resigned as CEO and chairman of Wynn Resorts, effective immediately. He has been replaced by current president Matt Maddox. Wynn has faced a barrage of accusations of rampant sexual harassment covering the many years he has served as CEO of the company he founded in 2002. The tipping point was a Wall Street Journal investigation, which put the stock price of Wynn Resorts into a freefall. News emerged that Wynn paid — and didn't disclose — a $7.5 million settlement to a manicurist over sexual misconduct allegations. In the three years that Skift has tracked the highest paid CEOs in the hotel business, Wynn has topped the lists every year in 2014, 2015, and 2016. Tonight, the company issued the following statement: Statement from Wynn Resorts

"The Board of Directors of Wynn Resorts reluctantly announced today that it accepted the resignation of Steve

Hotel coverage is exclusive for Skift Pro subscribers.

Subscribe for full access to all Skift coverage for as low as $55 a month.
See the latest hotel headlines.

Apple Pay, Google Pay, Paypal, VISA, Mastercard, Discover, American Express

Already a subscriber? Login