{"id":240515,"date":"2022-11-01T16:05:01","date_gmt":"2022-11-01T21:05:01","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=240515"},"modified":"2022-11-01T16:17:06","modified_gmt":"2022-11-01T21:17:06","slug":"speculation-grows-fertitta-may-want-to-acquire-wynn-resorts","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/","title":{"rendered":"Wynn Surges on Speculation Tilman Fertitta Stake Could Lead to Takeover Bid"},"content":{"rendered":"

Wynn Resorts (NASDAQ: WYNN) was one of Tuesday\u2019s best-performing gaming equities, surging 6.2% on volume that was more than double the daily average. That’s amid speculation Tilman Fertitta could make a takeover bid for the company.<\/p>\n

\"Fertitta
Tilman Fertitta in a 2020 interview. Some analysts believe he could be positioning for a takeover of Wynn Resorts. (Image: CNBC<\/em>)<\/figcaption><\/figure>\n

Shares of the Encore operator soared Monday on reports that Fertitta\u2019s Fertitta Entertainment took a 6.1% stake in the casino giant,<\/a> making him the second-largest individual shareholder, behind only Elaine Wynn. Fertitta\u2019s interest in Wynn was revealed in a Schedule 13G filing with the Securities and Exchange Commission (SEC), which is the document used by passive investors.<\/p>\n

Still, CBRE Equity Research analyst John DeCree believes something more could come of the billionaire\u2019s investment in the company.<\/p>\n

Potential buyers of Wynn have long struggled over how to deal with Macau. But with seven bidders for six concessions, there could be a window of opportunity to transact,\u201d<\/strong> wrote DeCree in a note to clients. \u201cFertitta also previously reached a deal to take Landry\u2019s public via a SPAC, but canceled that trade late last year, meaning a reverse merger could be an option.\u201d<\/strong><\/p><\/blockquote>\n

Fertitta attempted to bring his Landry\u2019s restaurant and Golden Nugget casino empire public<\/a> through a reverse merger with a special purpose acquisition company (SPAC). But that deal collapsed last December.<\/p>\n

Fertitta\/Wynn Deal Has Plenty of Variables<\/h2>\n

For now, it appears as though Fertitta is doing now more than taking a large stake in Wynn. It comes at a time when the stock is inexpensive on valuation, and as the company\u2019s three US properties are thriving.<\/p>\n

\n

Hence, the filing as a passive investor. He\u2019s also planning a new<\/a> integrated resort on 6.2 acres at Las Vegas Boulevard and Harmon Avenue he recently purchased. To some, that could be a sign that he\u2019s not intending to move on Wynn outright. On the other hand, Fertitta could resell that land to raise cash for a Wynn takeover.<\/p>\n<\/div>\n

DeCree said that while there are plenty of moving parts and complexities with Wynn\u2019s board of directors that make a proxy battle unappealing, Fertitta could simply make a traditional takeover bid for Wynn. The casino operator closed today with a market capitalization of $6.95 billion, indicating a takeover proposal would likely need to be north of $9 billion to even get the target to the bargaining table.<\/strong><\/p>\n

DeCree rates Wynn a \u201cbuy\u201d with a price target of $100, implying upside of almost 50% from today\u2019s close.<\/p>\n

Musk\/Twitter Could Be Harbinger<\/h2>\n

CBRE\u2019s DeCree isn\u2019t the only market observer that believes Fertitta\u2019s investment in Wynn could be a precursor to something more substantial. In a Monday note to clients, Gordon Haskett’s head of event-driven research, Don Bilson, reminded readers that Elon Musk\u2019s adventure with Twitter<\/a> started with a 13G filing. He now owns the social media company outright.<\/p>\n

Bilson also pointed out that Fertitta previously made an offer for Caesars Entertainment (NASDAQ:CZR) when that stock was trading at multiples comparable to where it is today.<\/p>\n

Fertitta, who now owns 6.1% of Wynn, has \u201cresources and aspirations\u201d and \u201ca strategic asset that could be used in various types of deals\u201d — all of which could be pointing to \u201cwhether there is more going on here than meets the eye. A lot more,\u201d opined Bilson.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Wynn Resorts (NASDAQ: WYNN) was one of Tuesday\u2019s best-performing gaming equities, surging 6.2% on volume that was more than double the daily average. That’s amid speculation Tilman Fertitta could make a takeover bid for the company. Shares of the Encore operator soared Monday on reports that Fertitta\u2019s Fertitta Entertainment took a 6.1% stake in the […]<\/p>\n","protected":false},"author":46,"featured_media":240516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,81886,32093],"tags":[81903,23,81966],"acf":[],"yoast_head":"\nSpeculation Grows Fertitta May Want To Acquire Wynn Resorts<\/title>\n<meta name=\"description\" content=\"Analyts believe Tilman Fertitta could be positioning for takeover of Wynn Resorts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Speculation Grows Fertitta May Want To Acquire Wynn Resorts\" \/>\n<meta property=\"og:description\" content=\"Analyts believe Tilman Fertitta could be positioning for takeover of Wynn Resorts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-01T21:05:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-01T21:17:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/TF2-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/\",\"url\":\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/\",\"name\":\"Speculation Grows Fertitta May Want To Acquire Wynn Resorts\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/TF2-scaled.jpg\",\"datePublished\":\"2022-11-01T21:05:01+00:00\",\"dateModified\":\"2022-11-01T21:17:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Analyts believe Tilman Fertitta could be positioning for takeover of Wynn Resorts.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/speculation-grows-fertitta-may-want-to-acquire-wynn-resorts\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/TF2-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/11\/TF2-scaled.jpg\",\"width\":2560,\"height\":1707,\"caption\":\"Tilman Fertitta in a 2020 interview. 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