Wynn stock rises as Houston Rockets owner Tilman Fertitta reveals Stake

Finance News

Wynn’s stock rose 6.4% after a SEC filing showed that investor Tilman Fertitta has taken a 6.1% stake in the resort operator.

Fertitta, who owns the National Basketball Association’s Houston Rockets, has amassed around 6.9 million shares in Wynn, 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.

Wynn shares were marked 7% higher in early Monday trading to change hands at $62.22 each, a move that would still leave the stock with a six month decline of around 10.2%.