BUZZ-CBRE says Wynn an "expensive endeavor" after Fertitta dicloses stake

reuters01:38

** Casino mogul and Houston Rockets owner Tilman Fertitta disclosed 9.9% passive stake in Wynn Resorts WYNN.O, up from prior 6%, per SEC filing

** "WYNN would be a more complicated and expensive endeavor given its sizeable enterprise value and international gaming licenses in Macau and UAE" - CBRE analyst John DeCree

** Also says Tilman's recent move is an "attractive value investment" that could become strategic if a unique situation arises

** Shares of the casino operator down 2.4% at $91 in afternoon trade

** Up to last close, stock up 2.3% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com;))

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