Tycoon's stake in Wynn Resorts doubles to 13%.

Shri

After news of Tilman Fertitta's investment in Wynn Resorts, the stock price of Wynn Resorts surged by more than 13%. Tilman Fertitta, an American billionaire businessman and owner of the NBA's Houston Rockets, is now the second-largest individual investor in Wynn Resorts, holding approximately 6.1% of the company's shares, according to reports. Elaine Wynn, co-founder of Wynn Resorts, remains the largest individual shareholder with an 8.4% stake.

According to the U.S. Securities and Exchange Commission (SEC), Fertitta owns 6,910,000 shares of Wynn Resorts, equivalent to about 6.1% of the company's shares. When investors hold a total of more than 5% of a company's shares, they are required to submit a Form 13G to the SEC, disclosing their holdings. Fertitta's move to purchase Wynn shares is seen as a bet on the successful renewal of Wynn's casino license in Macau, where there are only six new gaming licenses available. Currently, there are seven bidders competing for these licenses, and when the time comes, one existing operator may be excluded, or a new player may fail to enter the market.

Yamini003

When you're wealthy, you have the means to do pretty much anything you want.

Ritu13

When the stock price goes up, your net worth increases.

Samiksha

I wish I could be so wealthy someday.

Ritu77

Rich people tend to become even wealthier.

Iti9

Having more shares should allow for the potential to earn more money.