Tilman Fertitta Confident in DraftKings, Wynn’s Prospects for 2024

In a recent interview with CNBC’s Brian Sullivan, Tilman Fertitta argued that Golden Nugget is not the only equity that is most likely going to benefit from the momentum in the gaming industry in 2024. He also sees Wynn Resorts and DraftKings as sector companies in a very strong position, not least because of his own affiliation and investments in the entities.

Strong Year for Wynn and DraftKings Ahead, Shareholder Says

He noted that for as long as there was interest in gaming in Las Vegas, Wynn Resorts would always come on top. Of course, Fertitta is not only paying lip service to a direct competitor. He owns a 6.1% stake in Wynn Resorts which is understandably making him at least inclined to comment on the company.

His participation in Wynn is not just a way to hedge his portfolio against sudden shocks, but also a prelude to his grander ambitions to seek expansion with a casino resort in Las Vegas. Fertitta told Sullivan that he had not yet thought about acquiring Wynn Resorts, though, which has been speculated about extensively.

Fertitta’s bullishness on Wynn is somewhat justified by his purchasing the shares back in October for $87.21, which are now trading at $90.42 on the last trading day on December 22. This is a small but sustained gain and perhaps one of the reasons why Fertitta continues to exhibit outward confidence in the future of Wynn.

However, Wynn Resorts is not the only company he sees as a big winner moving forward. According to Fertitta, DraftKings is also in a very good position to enter the year on a high note.

The Industry to Be Concentrated in Four or Five Companies

Once again, Fertitta is speaking about a company he is familiar with as DraftKings bought Golden Nugget Online Gaming in a record-setting $1.56-billion all-stock deal which was finalized early last year.

Thanks to the alliance between the two, DraftKings and Golden Nugget Online Gaming can maintain a strong presence in both iGaming and sports betting. Fertitta is also confident that there will be only four or five companies that will end up dominating the entire industry – not just a state or two, but the entire United States and beyond.