Tilman Fertitta continues to be the best shareholder for Wynn Resorts Ltd.
In a submission of the Securities and Stock Exchange Commission of the company dated Monday, Fertitta, the owner of Houston-based Fertitta Entertainment Co., which runs Landry’s restaurant chain and Golden Nugget-labeled casinos, including the one in central Las Vegas, continued to be listed as owner to 10.9 million shares in Wynn Common Stock. There is holding of more than 10 percent of the company, which triggered the application.
In November, Fertitta surpassed Elaine Wynn, former wife to former Wynn CEO Steve Wynn and the company’s co -founder, as the leading shareholder.
Monday’s application also said that Fertitta has the right to buy $ 1.7 million at $ 85.73 per share by May 13.
Fertitta, which also owns the National Basketball Association Houston Rockets, was nominated in January to become an ambassador to Italy by President Donald Trump.
In May, Fertitta said that he forged forward on a strip project, an not yet named 43-storey, 2,420 room on 6.2 acres on the southeastern corner of Las Vegas Boulevard and Harmon Avenue.
While large efforts in companies of insiders can signal a waiting takeover bid, analysts have said that Fertitta is not expected to do so and is a passive investor.
Analysts have said that the share continues to be undervalued and the company’s latest project, Wynn Al Marjan Island in the United Arab Emirates, is likely to have no gaming competition in the region for three to five years.
Fertitta, a cousin to station casino managers Frank and Lorenzo Fertitta, have not talked publicly about their Wynn effort. While the investment is considered passive, some analysts expect Fertitta to become more active in the coming months.
Contact Richard N. Velotta at rvelotta@ theplayerlounge.com or 702-477-3893. Follow @rickvelotta at X.
