Former Wynn Resorts CEO Steve Wynn is Not Entitled to Severance Pay

Wynn Resorts has been making plenty of headlines in recent weeks since the company’s Chief Executive Office, gambling mogul Steve Wynn, resigned from his leading role.

The former CEO had been accused of sexual misconduct but has denied the accusations.

The 76 year old still remains the largest shareholder of Wynn Resorts with a 12% stake in the company but according to a new report, he is not entitled to any other compensation or severance payments.

The former CEO is even going to see his healthcare coverage terminated at the end of the year according to a regulatory filing from the company. He also will have his personal residence at Wynn Las Vegas terminated by the end of 2018.

Wynn has said he has no plans to sell his stake in the company any time soon.

Disclaimer: We have no position in Wynn Resorts, Limited (NASDAQ: WYNN) and have not been compensated for this article.