Tilman Fertitta Now Owns Nearly 12% of Wynn Stock

• Tilman Fertitta recently added to stake in Wynn Resorts
• He bought 1.68 million shares, taking his percentage to 11.8%

Tilman Fertitta increased his stake in Wynn Resorts (NASDAQ: WYNN) stock, elevating his owned percentage in the casino operator to 11.8%.

A Schedule 13G filing with the Securities and Exchange Commission (SEC) filed by the gaming company confirms the billionaire businessman recently exercised rights to acquire 1.68 million shares of Wynn, extending his status as the largest individual investor in the Las Vegas-based corporation.

The latest SEC filing indicates those 1.68 million shares were purchased at an average price of $85.73, or slightly below the Tuesday closing price of $86.03.

Under SEC rules, holders of more than 10% of a publicly traded entity’s stock are designated as “significant shareholders” or “insiders,” and are required by the commission to publicly disclose those stakes, regardless of what their intentions are.

Speaking of Fertitta’s Intentions

Since initiating his Wynn stake more than two years ago, Fertitta’s plans for the gaming company have been widely speculated upon.

The latter point has largely been dismissed on Wall Street with analysts saying a takeover of Wynn by Fertitta is unlikely because of complexities associated with the company’s international operations and because such an offer would likely require contributions from other parties, or Fertitta heading to debt markets to raise needed capital.

Investment community talk indicates that if Fertitta pushes for change at Wynn, it wouldn’t be as a traditional activist, but rather to encourage the company to better capitalized on its enviable brand recognition in the US.

Fertitta Could Be a Quiet Wynn Investor

For the time being, it appears unlikely that Fertitta will make any waves at Wynn. Following his recent appointment as US ambassador to Italy, he will step down as chief executive officer of his namesake business and entertainment empire.

He has yet to be officially confirmed to that role, but his nomination isn’t viewed as controversial, implying confirmation is likely and a major move at Wynn is all the more unlikely.

Beyond his substantial stake in the gaming company, Fertitta and Wynn have other ties. His company is rumored to be acquiring Zero Bond — the famous New York City social club that’s opening a members-only club at Wynn Las Vegas this year.