- Hospitality mogul Tilman Fertitta now owns over 10% of Wynn Resorts (WYNN) after increasing his stake from 9.9% in November 2024.
- According to SEC filings, Fertitta has the option to purchase an additional 1.7M shares at $85.73 per share by May 13.
- Wynn Resorts is seeking US expansion, with plans for an Encore casino in Virginia and a rejected bid for a 2.7M SF casino at Hudson Yards in Manhattan.
- After years of disillusionment, the hotel sector is rebounding, and 94% of investors plan to maintain or grow their holdings in 2025.
Billionaire investor Tilman Fertitta has once again increased his stake in Wynn Resorts (WYNN), solidifying his position as the company’s largest shareholder, per Bisnow.
Inside The Filings
According to SEC filings, Fertitta now owns 10.9M shares of WYNN, representing more than 10% of the company. He also has the option to acquire an additional 1.7M shares at $85.73 per share before May 13.
Fertitta first entered Wynn Resorts in 2022 with a 6.1% stake, sending shares soaring amid pandemic-era struggles. His latest move fuels speculation that he may push for greater US expansion for the casino operator.
Wynn’s Expansion Plans
Despite its stock still trading below pre-pandemic levels, Wynn Resorts has seen a 5% YTD increase, with Las Vegas operating revenue rising 0.3% YoY.
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However, adjusted property EBITDA fell 1.25% YoY to $267M. CEO Craig Billings cited growing demand despite economic challenges.
Unsurprisingly, the company is actively expanding its US footprint:
- Encore Boston Harbor Expansion: Wynn is increasing its footprint at the popular Massachusetts casino.
- Virginia Casino Proposal: A planned Encore casino in Virginia stalled after state legislators failed to pass necessary approvals, but developers remain hopeful for a future green light.
- Hudson Yards Casino: A 2.7M SF casino project in Manhattan, in partnership with Related, was rejected by the local community board in January.
Hospitality Rebound
With Fertitta doubling down on his investment in Wynn Resorts and the company actively pursuing growth opportunities, the gaming and hospitality giant remains a key player in the evolving US casino market.
The broader hotel sector has also seen renewed confidence post-pandemic. A limited supply of new properties and increased business travel due to return-to-office (RTO) mandates are feeding investor appetites in the sector.
In fact, roughly 94% of hotel investors plan to maintain or increase their holdings in 2025, up from 85% last year.
