U.S. Ambassador to Italy Bought Up to $420 Million in Caesars and Other Gambling Stocks

^{Pictured: Tilman Fertitta, U.S. ambassador to Italy}

U.S. Ambassador to Italy and San Marino Tilman Fertitta bought gambling stocks in transactions that could be worth hundreds of millions of dollars, NOTUS reported, citing financial disclosures filed with the U.S. Office of Government Ethics.

Fertitta is a billionaire who owns the Houston Rockets basketball team, Golden Nugget Hotel and Casinos and businesses in the restaurant and hotel sectors. According to the filings, he bought shares in Caesars Entertainment several times in November and December 2025.

NOTUS estimated the minimum value of those purchases at $113 million.

In February 2026, Fertitta also bought between $1 million and $5 million worth of Penn Entertainment shares. The disclosures also listed written call option positions involving shares in Wynn Resorts and DraftKings.

The exact amounts are not known because U.S. officials disclose transactions in value ranges rather than precise figures. Based on the upper end of those ranges, the total value of the transactions could reach $420 million.

The purchases have drawn scrutiny because of a potential conflict of interest.

Fertitta holds a government post while remaining a major figure in the gambling and hospitality industries. His holding company, Fertitta Entertainment, owns Golden Nugget Hotel and Casinos and, according to media reports, had been attempting to buy Caesars Entertainment.

A spokesperson for Fertitta Entertainment told NOTUS there was no conflict of interest. The spokesperson said Fertitta had no day-to-day control over decisions involving his companies or assets and that the gaming companies involved do not operate in Italy or conflict with his duties as ambassador.