Fertitta Doubles Down on Wynn Stake Amid New Trump Tariffs

In a move that now looks timed to perfection, billionaire Tilman Fertitta has quietly doubled down on his investment in Wynn Resorts (NASDAQ: WYNN), strengthening his position as the largest individual shareholder of the company. 

Ferttita Now Owns 13% of Wynn Resorts 

According to recent filings with the Securities and Exchange Commission (SEC), Fertitta, who owns the Houston Rockets and is also the soon-to-be-former head of Fertitta Entertainment, added another 400,000 shares to his Wynn stake in early April. 

Namely, Fertitta bought 300,000 shares on April 4 and another 100,000 the following Monday, April 7.

These buys come on the heels of a busy March, during which Fertitta snapped up 1.68 million shares of the Las Vegas-based casino giant, pushing his total ownership to 11.8% at the time.

Now, with more than 13 million shares in hand, he owns roughly 13% of the company, a notable leap from his initial 6.91 million share purchase in 2022, which gave him a 6.1% stake.

Interesting Timing

The timing of Fertitta’s latest buys is particularly interesting. Shares of Wynn had taken a beating, dropping nearly 15% over the past month and more than 30% off their 52-week high, mostly due to ongoing trade tensions between the U.S. and China. 

With Wynn’s deep ties to Macau, which has long been a hotspot for high-end casino revenue, any uncertainty in U.S.-China relations tends to hit the stock hard.

Still, Fertitta didn’t flinch. He paid an average of $69.43 per share for his early April transactions, and within days, Wynn stock rebounded sharply, climbing to around $75 after a broader market rally. 

That bounce followed news from President Trump of a 90-day tariff pause on certain countries, although China was notably not among them, and continues to hint at retaliatory measures.

Mission Accomplished 

Fertitta’s growing stake is part of an agreement reached with Wynn that gave him until May 13 to purchase up to 1.68 million additional shares, which he appears to have now completed. 

While speculation has swirled in the past about a potential buyout attempt by Fertitta, those rumors have cooled, particularly as he awaits confirmation for a new role as U.S. ambassador to Italy.

His long-term interest in the luxury hotel and casino operator that is getting ready to open its first property in the UAE by 2027, however, remains clear. From an initial entry during a downturn to his recent additions during another slump, Fertitta has shown a knack for buying low, and so far, it’s paying off.