Billionaire Tilman Fertitta has upped his stake in Wynn Resorts to nearly 10%, per a U.S. Securities and Exchange Commission filing. The filling sparks speculation on his potential influence, though it shows a passive role. Wynn's stock surged 9% Thursday, marking its 200-day moving average. Fertitta, CEO of Landry’s and owner of the Houston Rockets and Golden Nugget casinos, is building a new resort on the Las Vegas Strip. Analysts continue to question its 162-acre Las Vegas holdings, valued at over $2 billion, with no clear development or sale plans.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Billionaire Tilman Fertitta has upped his stake in Wynn Resorts to nearly 10%
00:06per a U.S. Securities and Exchange Commission filing.
00:09The filing sparked speculation on its potential influence, though it shows a passive role.
00:14Wynn stocks surged 9% Thursday, marking its 200-day moving average.
00:19Fertitta, CEO of the Landrys and owner of the Houston Rockets and Golden Nugget casinos,
00:24is building a new resort on the Las Vegas Strip.
00:26Analysts continue to question its 162-acre Las Vegas holdings,
00:31valued at over $2 billion, with no clear development or sales plans.