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Billionaire Tilman Fertitta has increased his stake in Wynn Resorts to 9.9%, becoming the largest individual shareholder, as the company's stock rose 9% following the news. Despite a long history of volatility, Wynn's stock has gained roughly 57% over the past two decades, significantly lagging behind competitors like Marriott and Hilton. Fertitta, who also owns the Houston Rockets and several Golden Nugget casinos, is planning a new casino resort on the Las Vegas Strip while Wynn faces scrutiny over its performance and future development plans.
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