Wynn Resorts Jumps After Tilman Fertitta Unveils His Stake
iBET ETF Insights: The Houston mogul Tilman Fertitta, has just become the second largest shareholder of Wynn Resorts (WYNN) according to SEC filings which show he has built a 6.1% stake, totaling around 6.9 million shares in the company. Hospitality Headquarters Inc. and Fertitta Entertainment were two names listed in the share purchase from Fertitta. With that the share price of WYNN jumped almost 10% today as investors pile in. Wynn generates around 70% of all of its revenue from Macau which just announced they will be resuming e-visas as well as tour groups in November. If Fertitta were to acquire more of Wynn he could look to become a member of the board and with that he could aid in Wynn Macau’s hospitality efforts using his aforementioned company.