Tilman Fertitta Increases his Stake in Wynn Resorts
Tilman Fertitta, the largest individual shareholder of Wynn Resorts, increased his stake in the casino group with trades on April 4 and April 7.
Prior to the recent trades, disclosure records listed him as holding a 10% stake in Wynn Resorts. His latest share purchases, totaling 400,000 shares, were made at prices ranging from $67.62 to nearly $70.31 per share.
These transactions bring Fertitta’s total stake to 13 million shares, solidifying his position as the largest individual shareholder in the company.
Fertitta is the CEO of Houston-based Fertitta Entertainment with its Golden Nugget casino brand, restaurants and the NBA’s Houston Rockets. He announced plans to resign from his post at Feritta Entertainment if he is confirmed as ambassador to Italy and San Marino.
The billionaire took advantage of a steep drop in the stock market by acquiring more shares of Wynn Resorts at close to its 52-week low. Wynn saw its shares close at $67.93 on April 7, marking their lowest trading level since late 2022.
The share purchases were executed through various Fertitta-controlled entities, including Fertitta Entertainment Inc., Hospitality Headquarters, and Fertitta Entertainment LLC. As the sole proprietor of these organizations, Fertitta maintains shared beneficial ownership of the acquired securities.
Feritta has yet to file a SEC 13D form, which would allow him to have a greater influence on the company instead of remaining a silent shareholder.
