LAS VEGAS (Bloomberg)—Resort and casino mogul Stephen Wynn has settled a lawsuit he brought against his insurance company, Lloyd’s of London, after Wynn accidentally put his elbow through his Picasso painting, Bloomberg reports.

Wynn’s elbow punctured the 75-year-old artwork, La Reve, on Sept. 30 as he was showing the work to friends. Prior to the incident, the painting was estimated to be worth $139 million, but afterward, a restorer said the repaired painting was worth only $85 million.

Wynn’s complaint said that he had not been paid or received a counter-offer from Lloyd’s to cover the $54 million in lost value.

While details of the settlement have not been released, a one-page document stated that all claims “are dismissed.”

Bloomberg: Wynn Settles Insurance Suit With Lloyd’s Over a Torn Picasso