Tilman Fertitta's potential appointment as US ambassador to Italy could significantly reduce his chances of pursuing activist involvement with Wynn Resorts, where he currently holds a 9.9% stake.

According to CNBC's David Faber, if Fertitta accepts the diplomatic position, he's unlikely to push for changes at Wynn. The ambassadorship to Italy, considered a prestigious diplomatic post due to the country's status as a major US ally and the Eurozone's third-largest economy, would require significant time and attention.

Fertitta recently increased his stake in Wynn from 6.1% to 9.9%, becoming the second-largest individual shareholder after Elaine Wynn. While this sparked speculation about potential activism or acquisition, analysts have dismissed these possibilities, citing several key factors:

• Complexities with Wynn's Macau licensing
• Ongoing development of a UAE casino resort
• Significant capital requirements for any takeover attempt
• Time demands of Fertitta's existing business empire

Despite Fertitta's known interest in acquiring a Las Vegas Strip property and history of transitioning from passive to activist investor, the diplomatic appointment would likely keep him as a passive stakeholder in Wynn Resorts.

His current business portfolio already includes:

• Golden Nugget casinos
• Houston Rockets NBA team
• Multiple restaurant chains
• Car dealerships
• Extensive real estate interests

The combination of these existing commitments and potential diplomatic responsibilities makes it highly probable that Fertitta will maintain his current passive investment position in Wynn Resorts for the foreseeable future.

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