Elaine Wynn owns another 10 million shares, giving them a combined 21% stake. The company, which operates casinos in Las Vegas and Macau, said in its filing that Steve Wynn may now 'seek to sell all or a portion' of the roughly 12 million shares that he owns.
Wynn stepped down as CEO last month after allegations of sexual misconduct piled pressure on the billionaire casino mogul and sent the company's stock tumbling.
Wynn Resorts said in a filing on Thursday that Wynn, its former chief executive, and his ex-wife Elaine Wynn, have dissolved an agreement that prevented them from selling their shares. Steve Wynn is now free to sell his stake in the massive casino business he founded.
