16+ CR GTD
Header banner - Calling Stn
Pokersaint - Lead
Steve Wynn CEO Wynn Resorts Gambling

Steve Wynn Resigns as CEO of Wynn Resorts

by GS Admin Posted on 07 Feb, 2018

A couple of weeks back, there were shocking accusations published in the Wall Street Journal of ‘a decades-long pattern of sexual misconduct’ by casino mogul Steve Wynn. Wynn was CEO and Chairman of Wynn Resorts, one of the biggest operators of high-end hotels and casinos in the world.

The report spoke about years of sexual misconduct by Wynn, including a $7.5 million settlement paid to a manicurist who alleged that she was forced to have sex with Wynn. The 76-year old denied all allegations made in the Wall Street Journal and you can read all about that story here.

The CEO’s ouster was on the cards after this incident, especially since he held minority shares in the company. Wynn Resorts promised to investigate the matter and oust him if needed. However, we come with news that Wynn has now stepped down as CEO and Chairman of Wynn Resorts. Wynn will be replaced by Matt Maddox, currently the President of the company, as CEO.

“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,” said Boone Wayson, non-executive director. “In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity. I have reached the conclusion I cannot continue to be effective in my current roles,” is what Wynn had to say after the company announced his resignation.

Wynn earlier called these accusations ‘preposterous’ and said they were initiated by his ex-wife to seek an advantage in their divorce lawsuit. Shares of Wynn Resorts fell further with the news of Steve Wynn’s resignation, while trading in shares of Wynn Macau were halted on Wednesday, as reported by the Hong Kong stock exchange.

Wynn has always been an industry giant and has put together a team of world-class executives over the years, so the future of the company seems to be in safe hands. Has Wynn resigned on his own terms? Or would the board have pressurized him into resigning after the report in the WSJ? Leave your comments and let us know what you think!

For similar casino related stories from around the world, keep following GutshotMagazine.com!

Tagged : 


Your email address will not be published. Required fields are marked *

Dangal box

Top 10 Poker Rooms

  • Calling Station
    Calling Station

    Instant withdrawal; Use “RELOAD20” on deposits for 20% locked bonus
    Offer: "GUTSHT" Register

  • 9stacks

    Instant withdrawal; 100% locked bonus on first deposit
    Offer: "9GUTSHOT Register

  • PokerSaint

    60-seconds withdrawal; 100% locked bonus on first deposit
    Offer: "GUT100" Register

  • Poker Dangal
    Poker Dangal

    INR 500 Free on sign-up; (120 Locked, 330 Ticket, 50 Instant)
    Offer: 150% on first deposit up to INR 5,000 Register

  • Natural8

    Sign-up code "GUTSHOT"
    Offer: 200% bonus up to $500 or $100 in instant rewards Register

  • Pocket52

    Offer: NA Register

  • Poker Tempo
    Poker Tempo

    Free Rs. 700 on Signup - 600 Ticket for 1 Lakh GTD tournament, 50 Instant, 50 Locked
    Offer: "WELCOME700" - First deposit bonus of 150% Register

  • PokerStars India
    PokerStars India

    Deposit Rs.500 and get First Deposit Bonus of Rs.2,500 + 5 tickets to Depositor Freerolls
    Offer: "IMIN2500" Register

  • Spartan Poker
    Spartan Poker

    Sign-up with "GUTSHOT"
    Offer: "GUT300X" to get 300% on your deposit Register


    Sign-up with "GSBLZ"
    Offer: NA Register

BSU box banner

Want to share your thoughts about poker?

Then click the button to submit your article.

Facebook + Follow

Instagram + Follow

Pocket52 1 Lakh freeroll

Pocket52 1 Lakh freeroll