Wynn stock rises in Macau

Stephen Wynn’s resign this week has allegedly contributed with a growth on the company’s stock.

Macau.- Wynn Macau Ltd’s share price of the company rose by as much as 9.0 per cent on Thursday, after the announcement of Stephen Wynn’s resign. In the last week, Wynn Macau Ltd shares had lost nearly 17 per cent of their values after the Wall Street Journal published several women’s accusation against the -now- former CEO of the company.

The international media confirmed that Stephen Wynn, chairman and chief executive of Wynn Resorts, has decided to resigned from his position in his company after the scandal involving sexual allegations against him. Wynn Resorts operates casinos worldwide and is positioned as one of the leading companies of the international industry.

Former employees of Wynn claimed he had had inappropriate sexual behaviour in front of them, whilst a manicurist told the Wall Street Journal that he forced her to have sex in his office.

Stephen Wynn’s job position as CEO of the company will be taken by Matt Maddox, who has been president of Wynn Resorts since 2013. The official statement published by Wynn after the resign announcement argues that the decision was made as “an avalanche of negative publicity” had created an environment “in which a rush to judgment takes precedence over everything else, including the facts.”