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Steve Wynn Sells Third Of His Resort Shares Following Sex Misconduct Allegations

PHILADELPHIA (CBS) -- Embattled casino mogul Steve Wynn has cashed out more than one-third of his stake in the company that bears his name.

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Securities filings show Wynn netted nearly $739 million in the sale.

The move now makes Wynn's ex-wife and co-founder, Elaine Wynn, of the Wynn Resorts the company's largest shareholder.

He resigned as chairman and CEO of the company back in February after accusations of sexual misconduct surfaced.

Steve Wynn Steps Down As CEO Of Wynn Resorts

Wynn denies the allegations.

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