Houston billionaire Tilman Fertitta has shelved his envisioned casino project on the Las Vegas Strip so long as he owns his stake in Wynn Resorts, his company said.
Fertitta, now U.S. ambassador to Italy, owns 13 million shares in Wynn and views a competing high-end casino on Las Vegas Boulevard as a “conflict of interest,” said Steven Scheinthal, executive vice president and general counsel for Fertitta Entertainment.
As a result, Fertitta “has no plans to continue with the project so long as he maintains his Wynn ownership,” Scheinthal told the Las Vegas Review-Journal on Tuesday, after he gave a similar statement to Houston news site Chron.com last week.
