Tilman Fertitta Now Owns Nearly 12% of Wynn Stock

Posted on: March 26, 2025, 02:23h. 

Last updated on: March 26, 2025, 09:57h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.
  • 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%.

Fertitta Commanders
Golden Nugget owner Tilman Fertitta has increased his stake in Wynn Resorts to nearly 12%. (Image: SB Nation)

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.

When it was revealed last month that Fertitta increased his Wynn stake to 9.9%, a related regulatory filing indicated he had until May 13 to buy another 1.68 million shares — an option he appears to have acted on well in advance of that deadline.

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.

Owing to his history as an investor who starts out as passive only to later turn activist, there’s been plenty of chatter that the Golden Nugget chief executive officer could push for some form of overt change at Wynn or potentially make a move to acquire the gaming operator. In some circles, the rumor has momentum due to Fertitta’s long-standing desire to own a casino resort on the Las Vegas Strip.

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.