Wynn Stock Surges As Houston Rockets Owner Fertitta Unveils Stake

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Wynn Resorts  (WYNN)  shares jumped higher Monday following Securities and Exchange Commission filings showing billionaire investor and restaurant owner Tilman Fertitta has built a 6.1% stake in the casino operator. 

Fertitta, who owns the privately-held Landy’s restaurant group as well as the National Basketball Association’s Houston Rockets, has amassed around 6.9 million shares in Wynn, according to a 13-G filing made public on Monday.

Hospitality Headquarters Inc., a Houston-based group controlled by Fertitta, as well as Fertitta Entertainment, which owns the Golden Nugget casino, were also named in the share purchase. 

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