Steve Wynn, who dazzled Massachusetts officials in his successful pitch to snare the lone Greater Boston casino license in 2014, is stepping aside as CEO of Wynn Resorts amid allegations of serial sexual misconduct.

Now the future of Wynn Resorts’ $2.4 billion casino under construction along the Mystic River in Everett is up to the Massachusetts Gaming Commission, which picked Wynn Resorts over Mohegan Sun in September 2014. Wynn’s application cost $25 million to generate and weighed 1,800 pounds, Wynn boasted to a Boston commercial real estate conference in 2016.

But it contained no mention of a $7.5 million settlement with a manicurist who accused Wynn of forcing her to have sex with him.

The departure was prompted by a Wall Street Journal report of a decades-long pattern of alleged sexual misconduct by Wynn, who built a gambling empire from Las Vegas to Macau that raked in $6.3 billion in revenues in 2017. The news sent Wynn Resorts stock tumbling nearly 20 percent in the past two weeks. Shares rebounded nearly 9 percent in early trading Wednesday.

Wynn denied the allegations. In a statement released late Tuesday, he did not acknowledge any wrongdoing.

“In the last couple of weeks, I have found myself the focus of an avalanche of negative publicity.  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 said.

Matt Maddox, president of Wynn Resorts since 2013, has been named as Wynn’s replacement.

The Massachusetts Gaming Commission picked Wynn over Connecticut’s Mohegan Sun as licensee for the Greater Boston casino license, one of three made available after the state legalized casino gambling in 2011.

Commissioners have the option of revoking the license if they find that Wynn Resorts violated the terms of its license, including clauses that make it conditional upon proof of “good character” and “honesty.” The commission meets at 2 p.m. today to discuss the Wynn investigation and other matters.

“The commission and MGC staff will now need to assess the overall impact and implications of this significant development, and the IEB (Investigations and Enforcement Bureau) will maintain its focus on the ongoing investigation,” the commission said in a statement Tuesday.

In announcing Wynn’s departure, Wynn Resorts said it “remains as committed as ever to upholding the highest standards and being an inclusive and supportive employer.”