{"id":4190,"date":"2024-12-17T16:52:27","date_gmt":"2024-12-17T17:52:27","guid":{"rendered":"http:\/\/restaurace-pohoda.eu\/?p=4190"},"modified":"2025-01-09T13:42:30","modified_gmt":"2025-01-09T13:42:30","slug":"tilman-fertitta-ambassadorship-would-lengthen-odds-of-wynn-activism","status":"publish","type":"post","link":"http:\/\/restaurace-pohoda.eu\/index.php\/2024\/12\/17\/tilman-fertitta-ambassadorship-would-lengthen-odds-of-wynn-activism\/","title":{"rendered":"Tilman Fertitta Ambassadorship Would Lengthen Odds of Wynn Activism"},"content":{"rendered":"

Tilman Fertitta\u2019s potential appointment as US ambassador to Italy could diminish the chances he takes on an activist role at Wynn Resorts (NASDAQ: WYNN), the casino operator in which he owns nearly 10% of the stock.<\/p>\n

\"Tilman
Golden Nugget CEO Tilman Fertitta\u2019s potential appointment as ambassador to Italy lowers the likelihood of him becoming an activist investor in Wynn Resorts. (Image: ESPN<\/em>)<\/figcaption><\/figure>\n

Speculation surfaced last week<\/a> that President-elect Donald Trump is mulling appointing Fertitta as ambassador to Italy. Multiple news outlets picked up the story, indicating there is some credibility to it. The owner of the Golden Nugget casinos has been a steady Trump supporter and benefactor of other Republican campaigns. On Tuesday, a CNBC<\/em> report noted if the businessman takes the diplomatic post, he\u2019s unlikely to push for change at Wynn.<\/p>\n

\n

If he decides to do that, he\u2019s not obviously going to be an activist\u201d in Wynn,\u201d reported David Faber of the financial news network. \u201cMy understanding is he\u2019s more leaning towards doing it, but we\u2019ll see.\u201d<\/p>\n<\/blockquote>\n

Not all ambassadorships carry the same weight, but Italy would be at the higher end of the spectrum given its status as a long-running US ally and as the Eurozone\u2019s third-largest economy.<\/p>\n

While the potential appointment of Fertitta to the role isn\u2019t viewed as controversial, the confirmation process can be time-consuming and subjects nominees to intense personal scrutiny, indicating preparation is likely to be a near-term priority for the Houston Rockets owner.<\/p>\n

Fertitta Likely to Remain Passive Wynn Investor<\/h2>\n

A November 13 filing with the Securities and Exchange Commission (SEC) confirmed Fertitta boosted his stake in Wynn to 9.9% from 6.1%, stoking speculation that he could push for change at the casino operator or consider an outright acquisition.<\/p>\n

\n

Nearly as quickly as that idea was floated, it was refuted by analysts<\/a> who noted Fertitta was unlikely to turn activist or pursue an acquisition of Wynn. Those comments were made prior to news of the diplomatic appointment emerging.<\/p>\n<\/div>\n

While Fertitta now ranks as the second-largest individual Wynn shareholder \u2014 trailing only Elaine Wynn \u2014 the prevailing wisdom holds that complexities associated with Wynn\u2019s Macau licensing and the development of a casino resort in the United Arab Emirates (UAE), as well as the need for Fertitta to raise significant capital, could keep him from making a takeover offer.<\/p>\n

Much of the conjecture pertaining to Fertitta possibly moving on Wynn is rooted in his well-known desire to control a Las Vegas Strip property and his history<\/a> of turning to activist from a passive investor.<\/p>\n

Italy Ambassadorship Could Keep Fertitta Passive<\/h2>\n

Fertitta already has a lot of irons in the fire. His business empire is expansive, including car dealerships, a slew of restaurants, and real estate interests to go along with Golden Nugget casinos and the Rockets.<\/p>\n

Plus, there\u2019s significant attention to detail required to execute a corporate takeover, particularly at the size and scope needed to get Wynn to the bargaining table \u2014 something Fertitta hasn\u2019t said he\u2019s interested in pursuing.<\/strong><\/p>\n

Bottom line: with a potential step into the world of international diplomacy looming, it might simply be easier for Fertitta to remain a passive investor<\/a> in Wynn for the time being.<\/p>\n

The post Tilman Fertitta Ambassadorship Would Lengthen Odds of Wynn Activism<\/a> appeared first on Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tilman Fertitta\u2019s potential appointment as US ambassador to Italy could diminish the chances he takes on an activist role at Wynn Resorts (NASDAQ: WYNN), the casino operator in which he owns nearly 10% of the stock. Golden Nugget CEO Tilman Fertitta\u2019s potential appointment as ambassador to Italy lowers the likelihood of him becoming an activist…<\/p>\n","protected":false},"author":1,"featured_media":4192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[],"_links":{"self":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/4190"}],"collection":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/comments?post=4190"}],"version-history":[{"count":2,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/4190\/revisions"}],"predecessor-version":[{"id":4193,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/4190\/revisions\/4193"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/media\/4192"}],"wp:attachment":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/media?parent=4190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/categories?post=4190"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/tags?post=4190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}