Tilman Fertitta now holds nearly 12% in Wynn Resorts stock

• Tilman Fertitta delivers his intent to increase his stake in Wynn Resorts
• Fertitta is now considered an "insider" for SEC reporting purposes
• Rumors that Fertitta may be looking to buy out Wynn Resorts are not very likely

Billionaire and casino mogul Tilman Fertitta has a lot going on for him. He may soon be dispatched overseas as the United States’ ambassador to Italy, but in the meantime, he has not let politics get in the way of business.

Fertitta delivers on ambition to increase Wynn Resorts share

On Tuesday, Fertitta, who also owns the Golden Nugget through Landry's, Inc., confirmed the purchase of an additional 1.6m shares, increasing his share in Wynn Resorts to 11.8% from 9.9% previously. Fertitta has further consolidated his status as the largest shareholder in the gaming and hospitality company.

A Schedule 13G filing with the US Securities and Exchange Commission has confirmed the stake increase. This also comes ahead of the deadline of May 13 set out by a previous filing for Fertitta to purchase the extra shares.

As noted in previous reporting, Fertitta has now been designated a "significant shareholder" or" insider" and will be subject to special rules by the commission, as well as an obligation to disclose stakes exceeding the 10% threshold.

His recent move in the company has stirred rumors that Fertitta may try to use his Golden Nugget’s CEO experience to try and push for a takeover of Wynn Resorts, but this has been largely put to rest by analysts who said that Fertitta would not gain much by pursuing this move.

One theory has been that Fertitta, who prefers to run his companies and capitalize them out of his pocket, would be reluctant to share control with other entities over Wynn Resorts if he was to seek a takeover, and he would likely need other parties to raise the funds necessary to acquire one of the world’s foremost gaming and hospitality companies.

Yet, Fertitta’s growing influence in Wynn Resorts is indicative of his long-term ambition to have a casino on the Las Vegas Strip.

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