Shares in Wynn Macau rose 6 percent on Thursday as trade resumed following the resignation of its founder Steve Wynn in the wake of allegations that he subjected women who worked for him to unwanted sexual advances.

Wynn Resorts, the parent company of Wynn Macau, said it has appointed Matt Maddox, its president since 2013, as chief executive. Maddox, who has been with Wynn Resorts since it was founded in 2002, is seen as a firm hand and is widely viewed as a favored protege of Wynn.

Steve Wynn has denied the accusations.