Billionaire casino mogul and Landry's CEO Tilman Fertitta increases his stake in Wynn Resorts to 9.9%
Billionaire Tilman Fertitta has increased his ownership stake in Wynn Resorts to 9.9%, according to a filing with the Securities and Exchange Commission.
He's frequently outspoken about issues that affect Las Vegas, whether it's Formula One or historic union wage contracts. Wynn Las Vegas is the top-of-the-line, uber-luxurious resort on the Strip, and it owns two high-end resorts in Macao. Its customers are wealthier and generally shop and gamble more.
In a June note, Jefferies analyst David Katz estimated the land was worth slightly more than $2 billion, but noted there is "no evident plan for development or sale."
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