NEW YORK -- Casino mogul Steve Wynn has resigned as chairman and CEO at Wynn Resorts amid sexual misconduct allegations.
Wynn Resorts says Tuesday the resignation is effective immediately.
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The Wall Street Journal reported Jan. 26 that a number of women said Wynn harassed or assaulted them and that one case led to a $7.5 million settlement.
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The Las Vegas billionaire has vehemently denied the allegations, which he attributes to a campaign led by his ex-wife.
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He also faces investigations by gambling regulators in two states.
The board of directors for Wynn Resorts has appointed Matt Maddox, currently president of the company, as its CEO effective immediately.
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This March 15, 2016 file photo shows casino mogul Steve Wynn during a news conference in Medford, Mass. (AP Photo/Charles Krupa, File)