LOS ANGELES - Investment firm Marsico Capital Management LLC has reduced its stake in casino operator Wynn Resorts Ltd as of the end of August, according to a regulatory filing on Thursday.

The fund adviser said it owned 9.7 million shares, or 7.9 percent of the company as of Aug. 31, down from just under 15 million shares, or a 13.4 percent stake in Wynn, at the end of 2008.

Shares of Las Vegas-based Wynn, which closed as high as $104.03 a year ago and as low as $14.50 in March, were up 1.7 percent at $62.15 in late trading on Nasdaq. (Reporting by Deena Beasley, editing by Matthew Lewis)