Fertitta Boosts Wynn Stake as Stock Struggles Amid Tariff Turmoil

In what now seems to be a sequence of exceptionally well-scheduled acquisitions, Tilman Fertitta increased his investment in Wynn Resorts (NASDAQ: WYNN), raising his share in the casino operator to around 13%. 

A recent Form 4 submission to the Securities and Exchange Commission (SEC) reveals that the soon-to-be-former leader of Fertitta Entertainment acquired 300K shares of Wynn on Friday, April 4, and an additional 100K shares on Monday. These transactions come after a series of purchases in March, during which the owner of the Houston Rockets acquired 1.68 million shares of Wynn, increasing his ownership stake in the operator to 11.8% and solidifying his position as the largest individual investor in the company. 

The purchases made in March were a component of an earlier agreement between Fertitta and Wynn, which specified that the billionaire had until May 13 to acquire an additional 1.68 million shares. He currently possesses over 13 million shares of the casino operator based in Las Vegas. That represents a notable rise from the 6.91 million shares or 6.1% of the operator’s outstanding shares that Fertitta purchased two years prior. 

 

Tilman’s Timing Remarkable 

Like other gaming stocks, especially those of physical operators, Wynn has been battered due to tariff uncertainty. As trade tensions escalate between the US and China — the two largest economies globally — Macau casino stocks, such as Wynn, have become some of the most susceptible. 

Wynn's shares have dropped 14.66% in the last month and are 30.83% under the stock’s 52-week high, suggesting that it required some boldness from Fertitta to increase his investment recently, yet he gained from this decision. The average cost of his purchases last Friday and Monday was $69.43. 

Currently, the gaming stock is hovering around $75 following President Trump's announcement of a 90-day suspension on tariffs for countries that did not respond to the US action. China does not belong to that group. That nation is indeed threatening to impose substantial trade tariffs on the US and is selling off Treasurys to express its dissatisfaction with Trump’s trade approach. 

Nevertheless, thanks to a Wednesday rally affecting the wider gaming sector, Wynn has risen roughly 8% from Fertitta’s average buying price in his latest deals. 

 

Fertitta's Stake in Wynn Has Quickly Increased 

An October 2022 Schedule 13G filing with the SEC revealed that Fertitta Entertainment, Fertitta personally, and another organization acquired 6.91 million shares of Wynn earlier this month, representing 6.1% of the casino operator’s outstanding shares. This implies that in under three years, his role in the gaming company has increased more than twofold. 

His purchases of the stock after a decline in April 2025 weren't his initial investments in it. When Fertitta took his role in the gaming company, the stock had fallen over 30% year-to-date. 

Considering his background of transitioning from a passive to an activist investor, there has been considerable speculation regarding Fertitta's potential move to fully acquire Wynn — a suggestion mostly dismissed by Wall Street and one that seems increasingly improbable as he anticipates confirmation to become the US ambassador to Italy.