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Wynn Resorts: Steve Wynn Will Not Get Any Severance Pay

Wynn resigned amid multiple sexual-misconduct allegations.

Wynn Resorts has decided that its founder and former CEO Steve Wynn—who resigned last week after damaging allegations of sexual misconduct against his employees—is not entitled to any kind of severance pay. Dozens of Wynn's former colleagues have accused him of sexual misconduct including pressurizing employees into sex. There was speculation that his departure from the company last week would come with a multi-million dollar pay-off, but the company told Reuters on Friday that Wynn would be receiving nothing and that his current healthcare package would be terminated at the end of the year. Wynn, who denies the allegations against him, remains the Wynn Resorts' largest individual shareholder with around 12% of the company.