Steve Wynn steps down as CEO following sexual misconduct allegations

Wynn said any claim that he "ever assaulted any woman is preposterous."
1:01 | 02/07/18

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Transcript for Steve Wynn steps down as CEO following sexual misconduct allegations
Casino mogul Steve Wynn has resigned from his own company. Amid accusations of sexual misconduct when denies the claims which he says are part of a campaign led by his ex wife. And in a statement here he says I've found myself the focus of an avalanche of negative publicity. As ever afflicted upon the environment this has created one in which a rush to judgment takes over precedence over everything else including the facts. I have reached a conclusion I cannot continue to be effective. In my current roles but experts in the gaming industry say it's unclear what effect Wynn's resignation will have on the business. This is somebody who for the past thirty years other people who follow could this be the last of the big titans you know where does this is clear the way for the next generation. When it was a big deal he played a key role in the resurgence of the Las Vegas Strip overseeing the construction Bellagio Treasure Island and later Lynn Rivers Wynn resort and casino. The bad publicity has reportedly cost when nearly half billion dollars.

This transcript has been automatically generated and may not be 100% accurate.

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