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US – Tilman Fertitta ups shares in Wynn Resorts to 6.1 per cent

By - 31 October 2022

American billionaire businessman and owner of Fertitta Entertainment and Landry’s, Tilman Fertitta has now obtained a 6.1 per cent stake in Wynn Resorts.

The Houston Rockets owner has amassed 6,917,551 shares in Wynn Resorts, which remains a passive stake as opposed to an activist stake.

With regards to the potential of a full takeover, CBRE analysts John DeCree and Max Marsh said: “We look to his prior acquisitions, including McCormick & Schmick’s and Morton’s Restaurant Group, both of which started with 13G filings that culminated in a full takeover. Wynn is a more complicated endeavor, but the take-private saga of Landry’s from 2008-10 (when Fertitta acquired all outstanding shares) is a good example of Fertitta’s tenacity.”

Landry owns and operates more than 600 restaurants, hotels, casinos and entertainment destinations in 35 US states and the District of Columbia. In 2005, the company acquired Golden Nugget Hotel & Casinos, with locations in Las Vegas and Laughlin, Nevada. Landry’s has also opened three additional locations in Atlantic City, New Jersey, Biloxi, Mississippi and Lake Charles, Louisiana.

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