CASINO MOGUL RESIGNS AMID SEX CLAIMS

LAS VEGAS Facing investigations by gambling regulators and allegations of sexual misconduct, billionaire casino mogul Steve Wynn has stepped down as chairman and CEO of the resorts bearing his names.

The Las Vegas-based Wynn Resorts said Wynn’s resignation Tuesday was effective immediately.

“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity,” Wynn said in a written statement. “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 has vehemently denied the allegations, which he attributes to a campaign led by his ex-wife. An attorney for Elaine Wynn has denied that she instigated the news report.