When you walk through the bronze-curved doors of the Wynn or Encore, you’re basically entering a shrine to a guy who isn’t even allowed to be there. Most people still think Steve Wynn owns the joint. Why wouldn't they? His name is literally written in cursive across the top of the building in giant neon letters. But honestly, the reality of who owns the Wynn in Las Vegas changed so fast back in 2018 that a lot of folks missed the memo.
Steve is gone.
He doesn’t have a seat on the board. He doesn’t have a suite. He doesn’t even own a single share of the stock anymore.
The Public Company Reality
Wynn Las Vegas is owned and operated by Wynn Resorts, Limited. This isn't a family business or a private fiefdom. It’s a massive, publicly traded corporation listed on the Nasdaq under the ticker symbol WYNN.
If you have a brokerage account and about a hundred bucks, you can technically be a part-owner of the Wynn yourself. Thousands of people are. But when we talk about who really "owns" it in the sense of power and control, we have to look at the institutional heavyweights and a few specific billionaires who have been buying up the floor.
The Big Players in the Boardroom
Right now, the ownership is a mix of massive investment funds and high-profile individuals. As of early 2026, here is the breakdown of the people and groups holding the keys:
✨ Don't miss: Getting a Mortgage on a 300k Home Without Overpaying
- Institutional Giants: This is where the real bulk of the money sits. Groups like Vanguard, BlackRock, and Capital World Investors own the largest chunks. They are the passive owners, the ones who care about the dividends and the stock price but aren't picking out the carpet patterns.
- Tilman Fertitta: This is the name you really need to know. The billionaire owner of the Houston Rockets and the Golden Nugget has been aggressively stalking Wynn Resorts. In recent years, Fertitta has upped his stake to over 12%, making him the largest individual shareholder. There’s a lot of chatter on the Strip about whether he’s planning a full-on takeover or just "parking" his money in a premium asset.
- Elaine Wynn: Steve’s ex-wife and the "Queen of Las Vegas" was a co-founder of the company. For a long time, she was the largest shareholder and fought a legendary legal battle to get her seat back on the board. While she has trimmed her position over the years, she remains a powerhouse figure in the company’s history and structure.
Who Is Running the Show Now?
If Steve Wynn isn't the boss, who is?
The man in the corner office is Craig Billings. He’s the CEO. He stepped into the role in 2022 after the previous CEO, Matt Maddox, steered the company through the immediate aftermath of the scandal and the pandemic.
Billings is a "math guy" who knows the gaming world inside out. He’s the one overseeing the massive expansion into the UAE with the Wynn Al Marjan Island project. Under his watch, the company has leaned hard into "premium mass" gaming—basically, they want the people who have a lot of money but maybe aren't the "whales" Steve used to chase.
A Board of Directors That Actually Directs
After the 2018 meltdown, the board of directors underwent a total scrub. It used to be filled with Steve’s old buddies. Now, it’s a much more corporate, diverse group. Philip Satre, a legend in the gaming industry who used to run Harrah’s, serves as the Chairman. His presence was designed to tell regulators: "Don't worry, the adults are in the room now."
The Scandal That Changed Everything
You can't talk about who owns the Wynn without talking about why the owner changed. It was a mess.
🔗 Read more: Class A Berkshire Hathaway Stock Price: Why $740,000 Is Only Half the Story
In early 2018, the Wall Street Journal dropped a bombshell report detailing decades of alleged sexual misconduct by Steve Wynn. Within days, the stock plummeted. Within weeks, Steve resigned. By March of that year, he had sold every single share he owned.
It was a corporate execution.
The Nevada Gaming Control Board wasn't playing around. They fine-tuned the rules so that the company could keep its license only if Steve had zero involvement. This is why you’ll never see him at the buffet. He’s persona non grata in his own house.
Misconceptions: What Most People Get Wrong
People often ask if MGM or Caesars bought the Wynn.
No.
💡 You might also like: Getting a music business degree online: What most people get wrong about the industry
Wynn Resorts remains a fiercely independent company. While MGM owns almost everything else on the Strip—Bellagio, ARIA, Mandalay Bay—the Wynn is their primary rival in the luxury space. There were rumors a few years ago that James Packer or even some sovereign wealth funds wanted to buy it, but nothing stuck.
Another weird one? People think the hotel is owned by a REIT (Real Estate Investment Trust) like Blackstone or VICI.
Actually, while many Vegas hotels sold their land to VICI and now pay rent to stay there, Wynn Resorts still owns the actual real estate for the Las Vegas campus. They own the land, the buildings, and the golf course. That makes them one of the few "landlords" left on the Strip.
What This Means for You
If you're a guest, the ownership shift is mostly invisible. The service is still top-tier. The flowers in the lobby are still replaced every few days. But from a business perspective, the "new" Wynn is much more calculated.
They are expanding. They just opened a casino in Boston (Encore Boston Harbor) and they’re building that massive "island" resort in the Middle East. The "owner" isn't a man in a tuxedo anymore; it's a global corporation with thousands of shareholders and a very strict legal department.
Actionable Insights for Following the Wynn:
- Watch the Ticker: If you want to know what’s happening with the ownership, follow WYNN on any finance app. If a big name like Tilman Fertitta buys another 2%, the stock usually jumps on takeover rumors.
- Read the Proxies: Every year, the company releases a "Proxy Statement" (Form DEF 14A). It’s public info. It lists exactly how many shares the executives and big bank owners hold.
- The UAE Factor: Keep an eye on the Al Marjan Island development. If that project succeeds, the company's valuation—and who wants to own it—will shift drastically toward international investors.
The era of the "celebrity owner" in Vegas is mostly over. The Wynn is the last great trophy of that era, even if the man whose name is on the door is now just a ghost in the history books.