Las Vegas business mogul and Wynn Resorts founder and CEO Steve Wynn resigned from his position Tuesday, according to a statement from the company, more than a week after he resigned as the Republican National Committee’s finance chairman.

The decision came amid allegations of sexual misconduct leveled at Wynn, detailed in a January report from The Wall Street Journal.

“It is with a collective heavy heart, that the board of directors of Wynn Resorts today accepted the resignation of our founder, CEO and friend Steve Wynn,” the statement from Boone Wayson, non-executive director of the board, said. “Steve Wynn is an industry giant. He is a philanthropist and a beloved leader and visionary. He played the pivotal role in transforming Las Vegas into the entertainment destination it is today. He also assembled a world-class team of executives that will continue to meet the high standards of excellence that Steve Wynn created and the Wynn brand has come to represent.”

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