Wynn Resorts said on Friday that former chief executive officer Steve Wynn was not entitled to severance payments or any other compensation.
Wynn, 76, resigned as CEO of the company earlier this month after allegations of sexual misconduct.
Wynn, who denied the accusations, remains Wynn Resorts’ largest shareholder and owns about 12% of the company. He had informed the company last week that he had no immediate plans of selling the company’s shares that he owns.
Casino mogul Wynn’s current healthcare coverage would be terminated at the end of this year, the casino company said in a regulatory filing, adding that his personal residence’s lease at Wynn Las Vegas, a duplex villa overlooking the 18th hole of the golf course, will terminate by June this year.
Last week, Wynn Resorts gave the top job to company veteran Matt Maddox.
Wynn, whose net worth is estimated at $3.5bn by Forbes, stepped down amid a deluge of sexual harassment allegations which were first reported by The Wall Street Journal.
The Journal described a decades long pattern of sexual misconduct with former employees claiming Wynn had pressured them to perform sex acts. “The idea that I ever assaulted any woman is preposterous,” he told the Journal.
Wynn stepped down as finance chairman for the Republican National Committee amid controversy. Complaints have been filed with the police in Las Vegas and Wynn is now being investigated by the Massachusetts Gaming Commission as the commission reviews Wynn Resort’s plans to build a $2.4bn luxury casino resort outside Boston.
