Fertitta sells 620,000 Wynn Resorts call options across two deals
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
Texas businessman Tilman Fertitta sold 620,000 Wynn Resorts call options in two transactions, per a Form 4 filing.
The restaurateur and Rockets owner is also reshaping Houston sports and Vegas casinos.
Background
Tilman J. Fertitta is a Texas businessman described as "the world's richest restaurateur," sole owner of Fertitta Entertainment, Inc. (Landry's, Golden Nugget Casinos & Hotels, and the NBA's Houston Rockets), a director and 10% owner of Wynn Resorts Ltd, and U.S. Ambassador to Italy and San Marino. The Form 4 filing (a disclosure of insider transactions) drew attention because it details his sale of Wynn call options — contracts giving the holder the right to sell Wynn common shares — held indirectly through Hospitality Headquarters, Inc.
How it unfolded
- Oct 30, 2026Fertitta sold 600,000 Wynn Resorts call options with a $94 strike price at $2.0351 each, expiring May 3, 2027.
- Nov 2, 2026He disposed of 20,000 Wynn Resorts call options with a $98 strike price at $2.1794 per option, also expiring May 3, 2027.
- Nov 3, 2026A report on his Form 4 filing said 620,000 call options were sold in total, each an obligation to sell Wynn common shares; he retained beneficial ownership of 600,000 and 20,000 derivative securities respectively, held indirectly under Hospitality Headquarters, Inc.
Key terms
- call options
- A financial contract giving the buyer the right, but not the obligation, to buy an asset at a specified price.
- Form 4 filing
- A US SEC filing reporting changes in ownership of a company's equity securities by directors, officers, and large shareholders.
- strike price
- A fixed price at which the owner of an option can buy or sell the underlying security or commodity.
Source: Wikipedia
Who’s saying what
- Analysts
- Citizens analyst Jordan Bender named Fertitta among influential figures involved directly or indirectly in Texas casino legalization efforts, after Democrat Vikki Goodwin beat Lieutenant Governor Dan Patrick.
Still unverified
Fertitta's group reportedly paid a record $300 million fee for the Connecticut Sun.