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.
Tilman Fertitta, who holds a 9.9% stake in Wynn Resorts Ltd., is dissatisfied with the company's performance and share price. He believes Wynn management is failing to effectively communicate its performance to investors and sees potential for brand expansion, especially in the US.
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