(Reuters) - Wynn Resorts Ltd 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 percent 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 will terminate by June this year.
Last week, Wynn Resorts gave the top job to company veteran Matt Maddox.
(Reporting by Arunima Banerjee and Sanjana Shivdas in Bengaluru; Editing by Savio D'Souza and Shounak Dasgupta)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app