Tilman Fertitta, Wynn Resorts’ largest single shareholder, has further increased his stake in the company by buying $27.87 million worth of shares.
According to documentation filed with the SEC, Fertitta purchased 400,000 additional shares of Wynn Resorts common stock across several trading sessions, strengthening his position in the Las Vegas-based gambling and hospitality corporation.
Wynn Resorts serves as the controlling entity of Wynn Macau, which manages the Wynn Macau and Wynn Palace establishments in Macau, China’s renowned gambling destination.
The acquisitions occurred at varying prices between $67.62 and $70.39 per share.
Following this investment, Fertitta’s aggregate holdings in the company have grown to 13 million shares. The purchase timing appears calculated, as the stock currently hovers near its 52-week bottom of $66.20 and exhibits oversold indicators according to market analysis.
These share purchases were executed through various Fertitta-controlled entities, including Fertitta Entertainment, Inc., Hospitality Headquarters, and Fertitta Entertainment, LLC. As the sole proprietor of these organizations, Fertitta maintains shared beneficial ownership of the acquired securities.
