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Steve Wynn sells entire stake in Wynn Resorts

LAS VEGAS, NV - SEPTEMBER 30: Wynn Resorts Chairman and CEO Steve Wynn speaks at the Global Gaming Expo (G2E) 2014 at The Venetian Las Vegas on September 30, 2014 in Las Vegas, Nevada. The American Gaming Association sponsors the annual gaming industry trade show and conference which runs through October 2 and is expected to feature 485 exhibitors showing off their latest products and services to about 27,000 attendees. (Photo by Ethan Miller/Getty Images)

LAS VEGAS (AP) — Former Wynn Resorts CEO Steve Wynn no longer has any stock in the company.

Wynn Resorts on Thursday announced Wynn has sold the remainder of his stake in the casino-operator.

Wynn had been the largest shareholder in the company. He resigned last month after women accused him of sexual misconduct.

Wynn Resorts says the billionaire on Thursday sold 8 million shares to two long-term institutional investors. At a price of $175 a share, the value of the sale is $1.4 billion.

Wynn Resorts says the latest sale effectively eliminates Wynn’s ownership in the company.

The Wall Street Journal two months ago reported that several women said the billionaire harassed or assaulted them and that one case led to a $7.5 million settlement with a manicurist. Wynn has denied the allegations.