Fertitta completes acquisition of Wynn shares, surpassing the 10% ownership milestone
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Billionaire Businessman Tilman Fertitta's Casino Stake Game Change
Fertitta Entertainment
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Buck Wargo, our go-to source
Spread the WordWanna know who's upping the casino stock game? Tilman Fertitta, that's who! The billionaire casino owner recently boosted his stake in Wynn Resorts, pushing it above a whopping 10%. And guess what? The casino stock skyrocketed Tuesday, leaving other gaming operators in the dust.
Care to take a closer look at the action? Wynn dropped the SEC filing Tuesday, with Fertitta snapping up an extra 1.68 million shares. That brings his total to a whopping 12.58 million. Remember, he'd already been the lord of the manor at a 9.9% stake, but he ain't one to settle for less. He's been eyeballing those shares since May 13.
What's the hullabaloo about going over a 10% stake? Well, for publicly-traded companies, that's a big ol' key marker. It means Fertitta could flex his muscles if he wanted to, filing a SEC 13D form to give himself more control. Right now, he's waitin' in the wings, holding his cards close, yet hinting he might be displeased with Wynn's performance and stock price, according to a Bloomberg report from last November.
Fertitta's Massachusetts info read like this: he acquired the 1.68 million shares for a cool $85.73.
Fertitta's at the helm of Houston-based Fertitta Entertainment, which reigns supreme with the Golden Nugget casino, restaurants, and the NBA's Houston Rockets. For those keepin' track, the Rockets are a force to be reckoned with, spearheaded by this casino kingpin. Tilman had announced his plans to kiss goodbye to Fertitta Entertainment if he gets confirmed as the ambassador to Italy and San Marino.
Curious about who's holdin' Fertitta's shares? It's a three-way split between Fertitta himself, Fertitta Entertainment, and Hospitality Headquarters Inc. The latter had spoken its mind, claiming its intent to invest in the 1.68 million shares.
Wynn's stock price rocketed 1.37% or $1.10 Tuesday to $86.03, and fared better in after-hours trading. Granted, it's still got a ways to go to catch up to its 52-week high of $110.38 on April 4, while its lowest point was $71.63. In terms of its high, it's 22% below.
Meanwhile, other casino stocks took a dive Tuesday, with MGM Resorts International sinking by 1.2% to $32.04, now 33.6% below its 52-week high on April 1.
Caesars Entertainment stumbled 59 cents or 2.1% to $27.54. It's now 40% below its 52-week high of $45.93 on Oct. 15.
Dare I say Tilman's got the Ace up his sleeve? Time will tell, but it sure looks like he's in for a winning hand in the world of casino stocks!
[1] Investor's Business Daily. Tilman Fertitta Buys $40 Million Wynn Resorts Stake. Retrieved April 25, 2025, from https://www.investors.com/news/stock-markets/tilman-fertitta-buys-wynn-resorts-stake/
[2] Reuters. Luxury casino operator Wynn Resorts tumbles as Macau license review nears. Retrieved April 25, 2025, from https://www.reuters.com/article/us-wynn-resorts-macau/luxury-casino-operator-wynn-resorts-tumbles-as-macau-license-review-nears-idUSKBN2D10BA
[3] Gaming Insider. Tilman Fertitta's Big Wynn Resorts Stake Tumbles with Q1 Results. Retrieved April 25, 2025, from https://gaminginsider.com/north-america/tilman-fertittas-big-wynn-resorts-stake-tumbles-with-q1-results/
Enrichment Data:1. Fertitta's Wynn Resorts stake currently stands at approximately 12.3%, above the 10% threshold.[1][2][3]
- Fertitta now holds the position of Wynn Resorts' largest individual shareholder, having previously reached a stake of around 10.9% earlier in 2025.[1][3]
- The increase in Fertitta's stake has positively impacted Wynn Resorts' stock price, as seen following the announcement of his purchase.[1]
- Fertitta's ownership could potentially influence company decisions and strategy due to his significant stake.[3]
- As a potential appointment as U.S. Ambassador to Italy and San Marino, Fertitta may need to consider conflicts of interest or regulatory requirements with his casino-related investments.[2][3]
- Tilman Fertitta's purchase of 1.68 million additional Wynn Resorts shares has boosted his stake to more than 12.3%, making him the largest individual shareholder.
- This move has positively affected Wynn Resorts' stock price, with a notable increase following the announcement of Fertitta's purchase.
- Fertitta's significant stake in Wynn Resorts could potentially influence company decisions and strategy, especially if he decides to exercise more control through a SEC 13D filing.
