Steve Wynn resigns over sexual misconduct allegations

Casino mogul Steve Wynn has resigned as chairman and CEO. Photo / AP

US hotel mogul Steve Wynn has stepped down as CEO of Wynn Resorts Ltd in the wake of dozens of allegations of sexual misconduct.

In a statement by Wynn Resorts published on the financial wire Bloomberg late on Tuesday the 76-year-old said he had found himself "the focus of an avalanche of negative publicity" in recent weeks.

"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 said.

Former employees have claimed he pressured them to perform sex acts on him. Wynn has repeatedly rejected the allegations.

The Wall Street Journal said that dozens of people it interviewed accused the mogul of sexually inappropriate behaviour.

At the end of last month, Wynn resigned from his position as finance chairman for the Republican National Committee (RNC).

The billionaire told the Wall Street Journal the accusations were instigated by his former wife Elaine Wynn, with whom he is involved in what he has called a "terrible and nasty" lawsuit over a divorce settlement.

The 76-year-old is well-known in Las Vegas, Nevada, where he built some of the city's most lavish casino-hotels.

He also owns two casinos in the Chinese gambling enclave of Macau.

Wynn, whom President Donald Trump called a "great friend" during the 2016 presidential campaign, had held the position of RNC finance chairman since early 2017.