Wynn Resorts Still Worth A Spin Of The Wheel
Wynn Resorts Ltd. (WYNN – Analyst Report) continues to gain in the stronger global economy, recently hitting a new multi-year high at $117.50 as its new Casino in Macau produces big returns. With a bullish next-year EPS growth estimate and a high industry rank, this Zacks #1 rank stock is no dice roll on momentum. Along with stocks like Las Vegas Sands and MGM Resorts, Wynn has been a monster stock since bottoming off of lows two years ago.
With its subsidiaries, Wynn Resorts develops, owns and operates casino resorts in Las Vegas and China. The company was founded in 2002 and has a market cap of $14 billion. We got an update on Wynn’s business on Nov. 2 when the company reported strong Q3 results in which CEO Steve Wynn said he potentially sees a bottom in Vegas.
The primary driver of the strong quarter was the company’s Macau resort, its new gaming facility in China that saw revenue increase 54% from last year to $671 million. Non-gaming revenue was also strong, up 66% to $77.5 million as retail and restaurant revenue surged.
We need great visionaries and businessmen/venture capitalists like Steve Wynn in our government! It would be great to have many more representatives with this type of background in Congress. He has successfully dealt with the Government in China and has a thriving enterprise over in Asia!
Steve Wynn throws a party like nobody’s business!! Has anyone stayed at the Encore, Bellagio or Macau??
If you haven’t experienced a Wynn Resort, you must! This guy is the master of ceremonies! I will never forget when my mother and I stayed at the Bellagio for the first time ever and experienced the outdoor water show to the tune of Andreas Bocelli! We were like two little kids. We must have been radiating joy bc two hot guys made their way toward us and when they got closer my mother said to me “you ruined it for me –I told you to put on lipstick tonight.” Obviously, they noticed that my mother was a senior citizen close up and that was her way of making fun of the situation.
I think that Steve Wynn is one of the greatest American Entrepreneurs around! He has an incredible ability to “think out of the box” and is always creating and building!
I think it would make a very interesting interview to learn about his plans to expand Wynn Resorts & Hotels throughout Asia.