12/19/2023 0 Comments Wynn encore spa day passThere is no regulation prohibiting Fertitta from making such a purchase, but state regulations say if an individual acquires 5 percent or more of shares, it must be reported to gaming regulators. Neither Fertitta nor Wynn offered any comments on the stock purchase, the amount of which requires him to disclose it to the Nevada Gaming Commission. 27’s closing stock price, the value of the purchase would be around $385 million.įertitta disclosed the purchase in a Securities and Exchange Commission filing Oct. Based on buying 6.9 million shares at Oct. The acquisition of Wynn’s stock occurred the same day he was approved by the county on his 43-story resort. It would include suites and villas, VIP salons and a bar and lounge for high-limit gamblers, building plans indicate. He submitted plans to build a 2,420-room resort that would include restaurants, convention space, a spa, wedding chapel, auto showroom and a 2,500-seat theater. Tilman Fertitta was in the news a week earlier when he received permission from the Clark County Commission to begin demolishing buildings on 6 acres he acquired at the southeast corner of Harmon Avenue and Las Vegas Boulevard. And he’s a cousin of the Red Rock Resorts-owning Frank Fertitta family. The path to taking the reins of Wynn Resorts would be difficult, according to DeCree.įertitta is the sole owner and CEO of Fertitta Entertainment Inc., which owns the Landry’s Restaurants empire and other restaurant brands, the Golden Nugget operations in multiple states including downtown Las Vegas, and the NBA’s Houston Rockets. Local gaming industry analyst John DeCree has a few theories ranging from it’s just a casual investment to maybe it’s the first step toward a corporate takeover. Cannon/Las Vegas Review-Journal) people in the gaming industry have begun asking the same question: What is Tilman Fertitta up to, buying an estimated $385 million in Wynn Resorts Ltd. Tilman Fertitta has acquired 6.9 million shares in Las Vegas-based Wynn Resorts Ltd.
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