UPDATE FEB. 7: A shareholder derivative lawsuit has been filed in Clark County district court on the behalf of the Norfolk County Retirement System, a current Wynn Resorts stockholder.
Shareholders are seeking redress from the injury and losses sustained by Wynn Resorts as a result of the alleged misconduct by Steve Wynn , former chairman and chief executive officer of Wynn Resorts.
The complaint also alleges that the company's board of directors turned a blind eye and disregarded a sustained pattern of sexual harassment and egregious misconduct by Wynn.
The lawsuit was filed by Eglet Prince and Chimicles & Tikellis.
Charlotte Arrowsmith, who claims that she was one of the women that Steve Wynn harassed, sipped champagne after she heard about his resignation.
Meanwhile, a Care2 petition has been launched to renamed Wynn Boulevard.
UPDATE FEB. 6: 13 Action News spoke with UNLV's Dr. David G. Schwartz about Wynn's announcement.
Dr. Schwartz is the Director of the Center for Gaming Research at the University of Nevada, Las Vegas.
"This is somebody who for the past 30 years other people have been following," he said.
Dr. Schwartz says the impact on the gaming industry is uncertain at the moment.
"Could this be the last of the big titans or does this just clear the way for the next generation," he said.
Wynn arrived in Las Vegas in 1967 and slowly built his empire and the city as we know it.
ORIGINAL: Wynn Resorts accepted the resignation today of Steve Wynn as CEO and Chairman of Board of Directors amid allegations of sexual assault against Wynn.
Wynn stated that he has become the center of negative publicity which he believed affected his current roles. "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," Steve Wynn.
Wynn Resorts has named Matt Maddox as CEO and Boone Wayson as Non-Executive Chairman of the Board of directors.
You can read the full statement from Steve Wynn and Wynn Resorts here .