Wynn Stock Surges As Houston Rockets Owner Fertitta Unveils Stake


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.