Updated: 10:47 pm, Thursday, March 22, 2018Embattled casino magnate Steve Wynn sold his remaining 8 million shares of Wynn Resorts on Thursday, completely severing his ties with the company that he founded 16 years ago, according to a Wynn Resorts press release. The Wynn Resorts stock closed Thursday at $175.54 a share, down about 1.9% from Wednesday’s close. The day before, he sold the 4.1 million shares – about a third of his stake in Wynn Resorts – on the open market for $180 a pop on Wednesday. The sales follow a February 9 letter filed by Wynn Resorts with the SEC stating that Steve Wynn “has no immediate plans to sell shares.” The letter also addressed a long-standing legal battle between Wynn and his ex-wife, Elaine Wynn, in which he sought to prevent Elaine from selling her Wynn Resorts shares. Elaine Wynn was listed at $2.5 billion on the 2018 World Billionaires List, with Wynn Resort shares making up about 65% of her wealth.

Source: Forbes March 22, 2018 18:31 UTC