Matt Maddox
Matt Maddox

Wynn Resorts has promoted longtime company executive Matt Maddox to succeed Steve Wynn as CEO.

Maddox joined the company in 2002 and gradually worked his way up through the ranks, becoming Wynn Resorts' chief financial officer in 2008 and president in 2013.

Steve Wynn stepped down as CEO late Tuesday, citing "an avalanche of negative publicity" stemming from allegations of sexual misconduct.

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