Wynn Resorts
Owns its own dirt — one of the last Strip operators to do so
Wynn Resorts operates the Wynn Las Vegas and Encore adjacent properties on the north Strip. Unlike most of its Strip peers, Wynn owns its own underlying real estate — there is no REIT in the capital stack. That makes Wynn an outlier and a useful counter-example to the VICI-centric capital structure that dominates the rest of the Strip.
Founder Steve Wynn departed in 2018 amid sexual-misconduct allegations. The company has been led by Matt Maddox and (since 2022) Craig Billings. The largest single shareholder, as of April 2025, is Tilman Fertitta — the Houston-based billionaire and owner of Landry's / Golden Nugget Las Vegas — who holds 12.3% of the company. See The Fertitta family across Vegas.
Properties owned (2)
- Wynn Las Vegas — North-Strip luxury; Wynn owns operations AND real estate
- Encore Las Vegas — Wynn's adjacent sister property; Wynn-owned dirt
References
- Tilman Fertitta becomes Wynn Resorts largest shareholder, April 2025 — 12.3% stake. Wikipedia; WYNN SEC filings.
What links here (6)
Categories: Operators