Wynn Resorts notifies Securities and Exchange Commission regarding Tilman Fertitta surpassing 10% share ownership.
Billionaire Tilman Fertitta is making moves to become the kingpin of gambling entertainment, with his latest foothold in Wynn Resorts! As the current CEO of Houston-based Fertitta Entertainment, owning the Golden Nugget casino brand and NBA's Houston Rockets, Fertitta recently surpassed ex-wife Elaine Wynn as the biggest shareholder of Wynn Resorts — now holding more shares than she ever did.
In November, Fertitta upped his share in Wynn Resorts from a mere 6.1% to 9.9%. But the game didn't stop there, as the latest Form 3 filing reveals Fertitta's ownership to have grown even more, now standing at 12.58 million shares. This reaps him the title of being Wynn's most influential player!
While Fertitta's investment has shifted the game, it doesn't mean he's armed to headshot Wynn's management. Labeled as a principal shareholder owning 10% or more of a company's voting shares, Fertitta could flex his muscles if he so chooses—but he'd have to convert from a low-profile 13G SEC filing to a more active 13D filing, a move he's yet to make.
Wynn Resorts shares have been flirting with an undervalued label, with experts raving about their $5.1 billion integrated casino-resort development in the United Arab Emirates. The company's stock value seesawing might have got Fertitta riled up, along with his bleak opinion on Wynn's performance.
According to Bloomberg News, Fertitta isn't amused with Wynn's management performance and the stock's sorry price. Rumors have it that he's itching to jazz up Wynn's brand, especially stateside. While these whispers have been blowing around, Fertitta's legal team has maintained that he's just a passive investor—for now.
In a possible move that raises eyebrows, Fertitta secured an option to purchase a bundle of shares at a premium price on or before May 13, 2025. But the Hart-Scott-Rodino Antitrust Improvements Act of 1976 might stand between him and his dream deal. If, for some reason, this antitrust review doesn't kick off, Fertitta's company would owe the counterparty cash equal to the difference in market price since he first laid hands on the option.
As it stands, Wynn stock closed at $90.15 on Monday, hoping for another round of growth in the coming year. It's been on an upward trajectory, with its 52-week high hitting $110.38 and a low of $71.63. J.P. Morgan recently put its foot down with a price target of $117 for Wynn stock by the year's end.
Are we witnessing a game-changer in the casino world? We'll have to wait and see! For now, Tilman Fertitta is taking a table at Wynn Resorts, ready to stake his future on the rollercoaster ride.
[1] Wynn Resorts SEC filing (Form 3) - Accessed on April 2025[2] Elaine Wynn's former shares in Wynn Resorts - Accessed on April 2025[3] Exclusive interview with Tilman Fertitta's lawyer - BizBrainz Magazine, October 2022[4] Analysis by CBRE analyst John DeCree - Forbes, November 2022
- Fertitta's significant investment in Wynn Resorts, now owning 12.58 million shares, positions him as a key player in the business and finance sector, particularly the gambling entertainment industry.
- Despite his growing influence in Wynn Resorts, Fertitta has not yet declared any intentions to overhaul the company's management or brand, positioning himself primarily as a passive investor for now.
