Business

Wynn shares rise as Houston Rockets owner Fertitta reveals stake


Beach Hotels in Wynn (WYNN) Shares edged higher Monday after Securities and Exchange Commission filings showed billionaire investor and restaurateur Tilman Fertitta built a 6.1 percent stake in the casino operator.

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

Hospitality Headquarters Inc., a Houston-based conglomerate controlled by Fertitta, as well as Fertitta Entertainment, which owns the Golden Nugget casino, are also included in the acquisition.

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