The news came after Wynn, who is also the founder of Wynn Resorts, was accused last month of decades of sexual misconduct, including regularly pressuring his employees at Las Vegas casinos into performing sex acts. After Mr. Wynn announced his resignation on Tuesday, the commission said it would “need to assess the overall impact and implications of this significant development.”

Mr. Wynn also stepped down as chairman of Wynn Macau, the arm of the company that focuses on Macau, the Chinese gambling enclave. “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.”

Wynn Resorts said it has appointed Matt Maddox, who currently serves as the company’s president, as its new CEO effective immediately. READ MORE: Steve Wynn, casino mogul and Republican donor, denies dozens of sexual misconduct claims: report

The board of directors for Wynn Resorts has appointed Matt Maddox, currently president of the company, as its CEO effective immediately.
In the United States, billionaire Steve Wynn, best known for his casino hotels and resorts, resigns as CEO of Wynn Resorts following sexual harassment reports, including a $7.5 million settlement with a former worker at his Las Vegas resort.