{"id":2394,"date":"2022-11-12T04:57:58","date_gmt":"2022-11-12T04:57:58","guid":{"rendered":"https:\/\/themeim.com\/wp\/laevent\/just-few-days-before-my-birthday-i-realized-that-copy\/"},"modified":"2022-11-04T18:33:36","modified_gmt":"2022-11-04T18:33:36","slug":"golden-nugget-owner-invests-in-rival","status":"publish","type":"post","link":"https:\/\/thehillpokerlongisland.com\/?p=2394","title":{"rendered":"Tilman Fertitta Buys 6% Stake In Wynn Resorts"},"content":{"rendered":"\n

Golden Nugget Owner Invests In Rival<\/h3>\n\n\n\n

by\u00a0<\/strong>Joe Mattia<\/a>\u00a0<\/strong><\/h2>\n\n\n\n
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Casino owner Tilman Fertitta, who is behind the Golden Nugget gambling brand, has invested heavily in Wynn Resorts.<\/p>\n\n\n\n

Fertitta disclosed a 6% stake in Wynn Resorts, making him the second-largest individual shareholder, the Wall Street Journal reported.<\/p>\n\n\n\n

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\u201cThe position, disclosed Monday in a filing with the Securities and Exchange Commission, adds to the billionaire\u2019s myriad holdings across entertainment and leisure. He also owns the National Basketball Association\u2019s Houston Rockets, Golden Nugget Hotel & Casinos and restaurant chains such as Del Frisco\u2019s and Bubba Gump Shrimp Co.,\u201d<\/p>\nWall Street Journal<\/cite><\/blockquote>\n\n\n\n

Fertitta now owns a reported $403 million in Wynn stock, thanks to his nearly seven million shares. Elaine Wynn, the former wife of disgraced casino mogul Steve Wynn, remains the largest shareholder. Steve Wynn doesn\u2019t have a stack in the company he co-founded.<\/p>\n\n\n\n

As of September 2022, Fertitta\u2019s net worth was estimated at $7.6 billion. He was placed at No. 260 on the Forbes Billionaires List. Forbes has called him the \u201cworld\u2019s richest restaurateur.\u201d<\/p>\n\n\n\n

Wynn Resorts has casinos in Nevada, Massachusetts, and Macau, a special administrative region in China.<\/p>\n\n\n\n

Shares of Wynn jumped on the news of Fertitta\u2019s stake.<\/p>\n\n\n\n

Wynn Resorts announced that it will release the company\u2019s financial results for the third quarter that ended September 30, 2022, after the market close on Wednesday, November 9, 2022, followed by a conference call.<\/p>\n\n\n\n

Wynn was a late entry into the U.S. online sports betting industry and has been winding down operations.<\/p>\n\n\n\n

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\u201cThe [online gambling] market is really not sustainable right now. Competitors are spending too much to get customers. And the economics are just not something that we\u2019re going to participate in.\u201d<\/p>\nMatt Maddox, WYNN CEO<\/cite><\/blockquote>\n\n\n\n

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Golden Nugget Owner Invests In Rival by\u00a0Joe Mattia\u00a0 Casino owner Tilman Fertitta, who is behind the Golden Nugget gambling brand, has invested heavily in Wynn Resorts. Fertitta disclosed a 6% stake in Wynn Resorts, making him the second-largest individual shareholder, the Wall Street Journal reported. \u201cThe position, disclosed Monday in a filing with the Securities and Exchange Commission, adds to the billionaire\u2019s myriad holdings across entertainment and leisure. He also owns the National Basketball Association\u2019s Houston Rockets, Golden Nugget Hotel & Casinos and restaurant chains such as Del Frisco\u2019s and Bubba Gump Shrimp Co.,\u201d Wall Street Journal Fertitta now owns a reported $403 million in Wynn stock, thanks to his nearly seven million shares. Elaine Wynn, the former wife of disgraced casino mogul Steve Wynn, remains the largest shareholder. Steve Wynn doesn\u2019t have a stack in the company he co-founded. As of September 2022, Fertitta\u2019s net worth was estimated at $7.6 billion. He was placed at No. 260 on the Forbes Billionaires List. Forbes has called him the \u201cworld\u2019s richest restaurateur.\u201d Wynn Resorts has casinos in Nevada, Massachusetts, and Macau, a special administrative region in China. Shares of Wynn jumped on the news of Fertitta\u2019s stake. Wynn Resorts announced that it will release the company\u2019s financial results for the third quarter that ended September 30, 2022, after the market close on Wednesday, November 9, 2022, followed by a conference call. Wynn was a late entry into the U.S. online sports betting industry and has been winding down operations. \u201cThe [online gambling] market is really not sustainable right now. Competitors are spending too much to get customers. And the economics are just not something that we\u2019re going to participate in.\u201d Matt Maddox, WYNN CEO<\/p>\n","protected":false},"author":1,"featured_media":5034,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[7],"tags":[36],"class_list":["post-2394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-casinos"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=\/wp\/v2\/posts\/2394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2394"}],"version-history":[{"count":3,"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=\/wp\/v2\/posts\/2394\/revisions"}],"predecessor-version":[{"id":5037,"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=\/wp\/v2\/posts\/2394\/revisions\/5037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=\/wp\/v2\/media\/5034"}],"wp:attachment":[{"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thehillpokerlongisland.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}