Billionaire Tilman Fertitta Boosts Stake In Luxury Wynn Resorts To Nearly 10%

Benzinga 2024-11-15

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Billionaire Tilman Fertitta has upped his stake in Wynn Resorts to nearly 10%, per a U.S. Securities and Exchange Commission filing. The filling sparks speculation on his potential influence, though it shows a passive role. Wynn's stock surged 9% Thursday, marking its 200-day moving average. Fertitta, CEO of Landry’s and owner of the Houston Rockets and Golden Nugget casinos, is building a new resort on the Las Vegas Strip. Analysts continue to question its 162-acre Las Vegas holdings, valued at over $2 billion, with no clear development or sale plans.

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