Latest news with #Fertitta
Miami Herald
11-06-2025
- Business
- Miami Herald
Why Tilman Fertitta became Wynn Resorts' top shareholder
The Nevada Gaming Control Board on Wednesday recommended Wynn Resorts Ltd.'s top shareholder and its chief operating officer suitable for licensing in Kirk Hendrick's last meeting as board chair. Board members voted unanimously to recommend Tilman Fertitta suitable as a beneficial shareholder of the company and Brian Gullbrants as an officer. Final approval of licensing is expected by the Nevada Gaming Commission on June 26. Fertitta is owner of Landry's Inc., which controls the Golden Nugget casino franchise and has properties in Las Vegas, Laughlin and Lake Tahoe, is owner of the National Basketball Association Houston Rockets and is Wynn's top shareholder. In April, Fertitta acquired 400,000 shares of Wynn through a company buyback program to bring his total to 13 million, roughly a 12.3 percent stake. In May, Fertitta said he was forging ahead on a Strip project, an as-yet-unnamed 43-story, 2,420-room resort on 6.2 acres on the southeast corner of Las Vegas Boulevard and Harmon Avenue. Later that month, he paused the direct oversight of his business portfolio to take a Trump administration appointment as ambassador to Italy and San Marino. Fertitta, a cousin of Red Rock Resorts executives Frank and Lorenzo Fertitta, was required to resign from his business holdings to comply with federal ethics rules, but is allowed to own shares and collect dividends as a passive investor in Wynn. Fertitta did not attend Wednesday's meeting, and his attorney, Steven Scheinthal, said that on Wednesday Fertitta was moving his possessions to Italy. Scheinthal said Fertitta is unhappy with Wynn's recent stock price and with some of the company's recent management decisions, 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 around $10 a share to Friday's closing price of $84.70 a share. Gullbrants recommended Gullbrants, who opened Encore Boston Harbor for the company in 2019, later moved to Las Vegas and became chief operating officer North America, overseeing both Las Vegas resorts and the Boston operation. Gullbrants, also an officer on the Las Vegas Convention and Visitors Authority board of directors, addressed the many management changes that have occurred at Wynn since former CEO Steve Wynn left the company in 2018. He also stressed the importance of company culture, respect among employees and regulatory compliance. In May, Wynn Resorts was disciplined by the Nevada Gaming Commission with a $5.5 million fine resulting from the discovery of an illegal scheme to recruit high-rolling gamblers through unlicensed money transmitting businesses. Wednesday's meeting was the last one for Hendrick, who announced in January that he planned to step down as chairman at the conclusion of Nevada's 2025 legislative session. In April, it was announced that Mike Dreitzer, former CEO of Gaming Arts LLC, a privately held Las Vegas-based gaming equipment supplier that holds more than 150 gaming licenses, would take the chairman's role in July. Dreitzer also served in the Nevada attorney general's office. Throughout Wednesday's meeting, Hendrick was applauded by applicants and attorneys for the 2½ years he has served as chairman. ___ Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Epoch Times
25-05-2025
- Entertainment
- Epoch Times
Country Singer Zac Brown to Receive Veterans Voice Award at 2025 AMAs
Zac Brown, frontman of the Grammy Award-winning country rock group the Zac Brown Band, has dedicated much of his career to serving veterans. In 2011, the singer-songwriter launched Camp Southern Ground, a retreat center based in Fayetteville, Georgia, that offers a variety of programs for former military personnel and children. He also regularly invites vets on stage during his shows to help raise awareness for the men and women who have risked their lives for this country. Brown's unwavering support of the veteran community hasn't gone unnoticed. On Memorial Day, the 46-year-old musician will be honored at the 2025 American Music Awards with the inaugural Veterans Voice Award, given to artists who have used their platforms to make meaningful, lasting impacts on the lives of veterans. 'This award means a lot to me because of the awareness that it's going to create for our veterans programs,' Brown 'The more people that are aware of how deserving these incredible people are, the more help that we can bring to them,' he added. Related Stories 3/1/2025 2/15/2025 'They're such incredible, dynamic people that make a lot of sacrifices, from their family, the quality of their family life when they return home, their mental wellness, all of those things, so that we can be free and able to be here.' The award will be presented by the Easy Day Foundation, a Las Vegas-based nonprofit founded by Frank Fertitta IV and Landon Gyulay in 2023 that supports veterans in their transition to civilian life. The AMAs, which will air live on May 26 during Military Appreciation Month on CBS and Paramount+, partnered with the organization to highlight the work of former and current military members, all while raising funds for the veteran community. Fertitta told The Epoch Times that presenting the Veterans Voice Award to Brown will be a major highlight of the show. 'We'll also showcase inspiring stories directly from Veterans and active-duty service members, people whose courage defines what this country stands for,' Fertitta said. Viewers can also expect to see 'powerful performances tied into the theme of service, resilience, and unity,' Gyulay added. 'What's most important to us is that Veterans aren't just being talked about, they're being included, front and center. This show is for them. And we hope it sparks a wave of compassion and commitment that lasts far beyond the broadcast.'
Epoch Times
25-05-2025
- Entertainment
- Epoch Times
American Music Awards Partners With Easy Day Foundation to Honor Veterans on Memorial Day
The 2025 American Music Awards will honor more than just this year's most influential artists. Airing for the first time on Memorial Day, the fan-voted award show will also pay tribute to some of the nation's greatest heroes— U .S. veterans. The AMAs partnered with the Easy Day Foundation to shine a national spotlight on former military and active-duty personnel while raising funds for the veteran community. Founded in 2023 by Frank Fertitta IV and Landon Gyulay, the Las Vegas-based grant-making nonprofit helps service members transition to civilian life by providing funding and resources to partner organizations that support veterans. The charity serves as the first official foundation partner of the AMAs, which will air live on May 26 during Military Appreciation Month on CBS and Paramount+. A portion of the award show's ticket sales will benefit the Easy Day Foundation. The program will also feature several in-show fundraising moments for some of the nonprofit's beneficiaries, including the Folded Flag Foundation, the Bob Woodruff Foundation, the Boot Campaign, and the University of Nevada, Las Vegas's Military and Veteran Services Center. In an interview with The Epoch Times, Fertitta said the partnership marks an incredible milestone for his foundation. Related Stories 4/24/2025 10/29/2024 'To now be aligned with the American Music Awards, the world's biggest fan-voted music event, is exactly the kind of platform we've envisioned to fulfill our mission,' he explained. Fertitta, an executive at Red Rock Resorts, said the show will allow the Easy Day Foundation to amplify its message on a broader scale and be a guiding light for patriotism by building 'community, visibility, and tangible support' for the brave men and women who have risked their lives for this country. 'Our mission at the AMAs is to turn inspiration into impact, and that starts with awareness,' he said. 'We want to inspire a new generation of philanthropic leaders and hope that viewers walk away with a deeper understanding of the challenges Veterans face after service and why continued support is so critical.' According to the Moreover, veterans are at an increased risk of developing a substance or alcohol use disorder. The Centers for Disease Control and Prevention 'That's why our partnership with the AMAs is so important,' Fertitta said. 'It amplifies visibility on Easy Day Foundation's three mission pillars—mental health, job placement, and family support, which directly address the urgent needs of those who have served and sacrificed.' Gyulay noted that his foundation's efforts go far beyond raising awareness for the struggles many veterans face each day. 'It's about action,' he told The Epoch Times. 'Ultimately, real change starts with understanding, and our goal is to shed visibility on the crucial need for support as veterans transition from military to civilian life.' In addition to fundraising opportunities, Gyulay said the 2025 AMAs will also feature special performances tied to themes of service, resilience, and unity. 'What's most important to us is that Veterans aren't just being talked about, they're being included, front and center,' he said. 'This show is for them. And we hope it sparks a wave of compassion and commitment that lasts far beyond the broadcast.' The 2025 American Music Awards, hosted by singer Jennifer Lopez, will air on CBS and Paramount+. Courtesy the American Music Awards Veteran television personality Dick Clark launched the AMAs in 1974. This year's show, hosted by singer and actress Jennifer Lopez, will take place at the Fontainebleau Las Vegas, a luxury resort on the Las Vegas Strip. The broadcast will mark the award show's return to television for the first time in almost three years, following the expiration of its previous contract with ABC. Presenters will include actress Cara Delevingne, singer Ciara, and comedians Nikki Glaser, Tiffany Haddish, and Wayne Brady. A variety of entertainers are slated to take the stage, including country stars Blake Shelton and Lainey Wilson, rising pop-rock star Benson Boone, and Latin pop singer Gloria Estefan, who will be performing at the AMAs for the first time in more than 30 years. Singer-songwriter Janet Jackson is also expected to perform, marking her first television performance in almost a decade. The 11-time AMA-winner will receive the show's prestigious ICON Award, which is given to artists whose music has had a significant cultural and global influence on the music industry. British singer Rod Stewart will take home the Lifetime Achievement Award in recognition of his nearly six-decade career.
USA Today
25-05-2025
- Business
- USA Today
Entering NBA offseason, Rockets focused on both talent and chemistry
Entering NBA offseason, Rockets focused on both talent and chemistry 'A winning basketball team not only takes a lot of talent, it takes a lot of chemistry,' Rockets owner Tilman Fertitta says, via PaperCity. 'You can't just look at it from a numbers standpoint.' The Houston Rockets clearly aren't ruling out superstar trade pursuits this offseason, but it's far from a given that any will reach the finish line. After leading the league in roster continuity prior to the 2024-25 season, the Rockets rose from 41-41 and No. 11 in the Western Conference in 2023-24 to 52-30 and No. 2 in the West in 2024-25. As owner Tilman Fertitta sees it, that's no coincidence. And a further leap might happen in 2025-26, should Houston simply stay the course. 'A winning basketball team not only takes a lot of talent, it takes a lot of chemistry,' Fertitta said during the recently completed 2025 playoffs, as captured by Chris Baldwin of PaperCity Magazine. 'You can't just take players, move them in and out, and change out half the team and not worry about the chemistry of the team. You can't just look at it from a numbers standpoint.' 'You have to play together as a team. And I think one of the positives about this team is they all really like each other and they all know their place (on the team). And they all respect each other.' 'The continuity is definitely a competitive advantage,' added Patrick Fertitta, Tilman's son and ownership's day-to-day representative in basketball operations. The Rockets also have in-depth knowledge of their young prospects, since each was selected after an extensive pre-draft scouting and interviewing process in recent years. 'We studied all these players that are on this team,' the elder Fertitta said, via PaperCity. 'We know everything about every player on this team. Their whole life.' In the same article, general manager Rafael Stone credited continuity as at least part of the reason for the leaps taken by some of Houston's young players last season. Alperen Sengun became a first-time NBA All-Star and drew All-NBA votes for the first time, while Amen Thompson earned Most Improved Player votes. 'Especially with a young team, we thought that continuity would be helpful for the younger players,' Stone told PaperCity. 'The more you know people, the more secure you feel. The easier it is to be yourself and grow.' As things stand, Houston has a 'young core' comprised of seven players selected in the first round of the 2021 through 2024 draft cycles: Jalen Green, Sengun, Jabari Smith Jr., Tari Eason, Thompson, Cam Whitmore, and Reed Sheppard. All were 23 years old or younger last season. Should the Rockets stay the course, that's probably the group from which further developmental leaps can be found. More: 2024-25 NBA awards ballots: Who voted for members of the Rockets?
Yahoo
30-04-2025
- Business
- Yahoo
Rockets owner Tilman Fertitta confirmed by Senate as new U.S. Ambassador to Italy
Tilman Fertitta, the billionaire owner of the NBA's Houston Rockets and chairman, president, and CEO of dining, hospitality, gaming, and entertainment corporation Landry's Inc., was confirmed by the U.S. Senate to serve as the United States Ambassador to Italy. Tuesday's vote was 83-14 in support of Fertitta's nomination. Fertitta, 67, has ancestral roots in the region. His great-great-uncles were Sicilian immigrants who settled in Galveston, Texas. A Houston native, Fertitta is often referred to as 'the world's richest restaurateur.' Through Landry's, Fertitta owns more than 600 properties in 36 states and in over 15 countries. His restaurants feature more than 80 different restaurant brands. He also owns and operates numerous gaming, hospitality, and entertainment venues, including the Golden Nugget Casino and Hotel brand. Last fall, Forbes estimated Fertitta's total net worth at $10.1 billion, ranking him as the 99th-richest person in the United States. That figure is up about $2 billion from 2023. In March, Fertitta stated that pending confirmation, he plans to separate himself from numerous business entities. That list includes his position as CEO of Fertitta Entertainment LLC, the holding company that includes entities such as Landry's Inc. and the Golden Nugget franchise. Fertitta also plans to resign from positions with several other hospitality entities, major corporations, and nonprofit organizations, including the NBA team's Clutch City Foundation. Another resignation will take place with the University of Houston system, where Fertitta is chair of the Board of Regents. But with regards to the Rockets, his ownership role will not change. Furthermore, Tilman's 30-year-old son, Patrick, has served as the day-to-day ownership representative for multiple years. Thus, from a team perspective, there will be minimal changes — even if Tilman is away. More: 'We have liftoff': Rockets owner Tilman Fertitta celebrates playoff-clinching win This article originally appeared on Rockets Wire: Rockets owner Tilman Fertitta confirmed as U.S. Ambassador to Italy
