Nevada Gaming Control Board recommended on Wednesday Wynn Resorts Ltd.’s highest shareholder and its chief manager who is suitable for licensing in Kirk Hendrick’s last meeting as chairman of the board.
Board members unanimously voted to recommend Tilman Fertitta suitable as a favorable shareholder in the company and Brian Gullbrants as an officer.
Final approval of licensing is expected by the Nevada Gaming Commission on June 26.
Fertitta is the owner of Landry’s Inc., who controls the Golden Nugget Casino franchise and has properties in Las Vegas, Laughlin and Lake Tahoe, is the owner of the National Basketball Association Houston Rockets and is Wynn’s top shareholder.
In April, Fertitta acquired 400,000 shares in Wynn through a repurchase program for the company to get a total of 13 million, about a share of 12.3 percent.
In May, Fertitta said he forged forward on a strip project, an not yet named 43-storey, 2,420 room on 6.2 acres on the southeastern corner of Las Vegas Boulevard and Harmon Avenue.
Later that month, he paused the direct monitoring of his business portfolio to take a Trump administration as ambassador to Italy and San Marino.
Fertitta, a cousin to Red Rock Resorts Frank and Lorenzo Fertitta, was obliged to resign from their business holdings to comply with federal ethical rules, but may own shares and collect dividends as a passive investor in Wynn.
Fertitta did not attend Wednesday’s meeting, and his lawyer, Steven Scheinthal, said Fertitta on Wednesday moved his possessions to Italy.
Scheinthal said Fertitta is dissatisfied with Wynn’s latest share price and with some of the company’s latest management decision, but believes in the company’s investment in a resort in the United Arab Emirates, Wynn Al Marjan Island, which will open in 2027.
In the past month, Wynn shares have dipped about $ 10 per share at Friday’s final price of $ 84.70 per share.
Gullbrants are recommended
Gullbrants, which opened Encore Boston Harbor for the company in 2019, later moved to Las Vegas and became Chief Operating Officer North America and monitored both Las Vegas Resorts and Boston operations.
Gullbrants, also an officer at the Las Vegas Convention and Visitors Authority Board, treated the many management changes that have occurred at Wynn since former CEO Steve Wynn left the company in 2018. He also emphasized the importance of corporate culture, respect among employees and regulatory compliance.
In May, Wynn Resorts was disciplined by the Nevada Gaming Commission with a fine of $ 5.5 million as a result of the discovery of an illegal system to recruit high -rolling players through unlicensed money transferring companies.
Wednesday’s meeting was the last for Hendrick, who announced in January that he planned to resign as chairman at the end of Nevada’s 2025 legislative session.
In April, it was announced that Mike Dreitzer, former CEO of Gaming Arts LLC, a privately owned Las Vegas-based supplier of gaming equipment that holds more than 150 gaming licenses, would take the chairman’s role in July. Dreitzer also served at Nevada Law Office.
Throughout Wednesday’s meeting, Hendrick was applauded by applicants and lawyers during the 2½ years he has been chairman.
This is a developing story. Come back for updates.
Contact Richard N. Velotta at rvelotta@ theplayerlounge.com or 702-477-3893. Follow @rickvelotta at X.
