According to a last week’s filing to the US Securities and Exchange Commission, Steve Wynn paid over $31.8 million in order to buy additional shares from his casino company Wynn Resorts. Only several weeks ago the billionaire acquired one million shares of the Las Vegas based company he founded back in 2002.

Over the past year, Wynn’s shares have noted a sharp drop in value; nevertheless, that didn’t affect the company’s Chairman to spend lots of cash and strengthen his position. Wednesday through Friday, the Securities and Exchange Commission filing reveals, there’ve been a total of eight transactions in which Wynn bought 522,850 shares of Wynn Resorts. The price per share he paid varied between $53.21 and $59.19.

The businessman controls over 11.74 million shares in the reputable casino operator whose gaming facilities include properties on the Las Vegas Strip and Macau. He is the largest shareholder in the company, but that doesn’t stop him from constantly increasing the number of shares he directly or indirectly holds in the operator.

In December, 2015, Wynn decided to spend $63.9 million for a total of 1,003,977 Wynn Resorts’ shares. The price he then paid per share was varying from $62.41 to $64.44 and his action was seen as sending a favourable message to the industry.

Last week’s transactions boosted Wynn Resorts Ltd. shares for 4.39%, reaching $59.17. In December, however, the jump was higher and they almost hit $70 per share, becoming Standard & Poor’s 500 Index top performer for the day. Nonetheless, Wynn’s stock in 2015 was down for about 53%.

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