Tilman Fertitta currently owns almost 12% of Wynn Resorts' stock.

Summary

• Tilman Fertitta announces his plan to boost his investment in Wynn Resorts.
• Fertitta is now regarded as an "insider" for SEC reporting purposes.
• It is unlikely that Fertitta will attempt to buy out Wynn Resorts.

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Billionaire and casino magnate Tilman Fertitta has a full plate. He may soon be appointed as the United States ambassador to Italy, but for now, he continues to keep business separate from politics.

Fertitta delivers on ambition to increase Wynn Resorts share

On Tuesday, Tilman Fertitta, who also owns the Golden Nugget through Landry's, Inc., announced that he has purchased an additional 1.6 million shares, increasing his stake in Wynn Resorts from 9.9% to 11.8%. This move further solidifies his position as the largest shareholder in the gaming and hospitality company. A Schedule 13G filing with the U.S. Securities and Exchange Commission has officially confirmed this increase in his stake. This purchase comes in advance of the May 13 deadline set by a prior filing concerning the additional shares. As previously reported, Fertitta is now categorized as a

or meaning he will be subject to special regulations by the commission and must disclose any holdings exceeding the 10% threshold. His latest actions have sparked speculation that Fertitta might use his experience as CEO of the Golden Nugget to attempt a takeover of Wynn Resorts. However, analysts largely dismiss this possibility, arguing that Fertitta would not benefit significantly from such a move. One idea is that Fertitta, who prefers to independently manage and fund his ventures, would be hesitant to share control over Wynn Resorts and would likely need additional investors to acquire one of the world's premier gaming and hospitality companies. Nevertheless, Fertitta's increasing influence in Wynn Resorts suggests his long-term goal of owning a casino on the Las Vegas Strip.