In what now seems to be a sequence of perfectly timed acquisitions, Tilman Fertitta increased his investment in Wynn Resorts (NASDAQ: WYNN), raising his share in the casino company to around 13%.
A recent Form 4 submission to the Securities and Exchange Commission (SEC) shows that the soon-to-be former leader of Fertitta Entertainment acquired 300,000 shares of Wynn on Friday, April 4, and an additional 100,000 shares on Monday. These transactions come after several purchases in March, where the owner of the Houston Rockets acquired 1.68 million shares of Wynn, raising his ownership stake in the company to 11.8% and solidifying his position as the largest individual investor.
The purchases in March were part of an earlier agreement between Fertitta and Wynn, which required the billionaire businessman to acquire an additional 1.68 million shares by May 13. He currently possesses more than 13 million shares of the casino operator based in Las Vegas. That’s a notable rise from the 6.91 million shares or 6.1% of the operator’s shares that Fertitta obtained two years ago.
Tilman's Timing Remarkable
Similar to other gaming stocks, especially those of physical operators, Wynn has faced severe pressure due to tariff unpredictability. As trade tensions escalate between the US and China — the two largest economies globally — Macau casino stocks, such as Wynn, have become some of the most susceptible.
Wynn's shares have decreased by 14.66% in the past month and are currently 30.83% beneath the stock’s 52-week high, suggesting that it required some boldness from Fertitta to increase his investment recently, yet he has benefited from this decision. The typical price of his purchases made last Friday and Monday was $69.43.
Currently, the gaming stock is hovering around $75 following President Trump's announcement of a 90-day suspension on tariffs for countries that did not respond to the US actions. China is excluded from that group. That nation is actually threatening substantial trade tariffs of its own on the US and is offloading Treasurys to express its dissatisfaction with Trump’s trade approach.
Nonetheless, thanks to a Wednesday surge influencing the wider gaming sector, Wynn has risen roughly 8% above Fertitta’s average acquisition cost from his latest deals.
Fertitta's Investment in Wynn Has Quickly Expanded
A Schedule 13G filing with the SEC in October 2022 showed that Fertitta Entertainment, Fertitta himself, and another entity had acquired 6.91 million shares of Wynn, representing 6.1% of the casino operator's total shares. This indicates that in under three years, his role in the gaming firm has increased by over two times.
His April 2025 purchases of that stock were not the first time he acquired it after a downturn. When Fertitta began his role in the gaming firm, the stock had declined over 30% on a year-to-date basis.
With his background of shifting from passive to activist investor, discussions about Fertitta possibly acquiring Wynn completely have circulated — an idea mostly dismissed by Wall Street and one that seems increasingly improbable as he waits for confirmation to become the US ambassador to Italy.
Related articles
Look through a few worthwhile and fascinating articles on casinos.
