Core Viewpoint - Wynn Resorts, Limited (WYNN) has shown strong stock performance, gaining 5.7% in the past month, outperforming key industry rivals and the broader market [1][2][6] Performance Comparison - WYNN's stock has outperformed major competitors such as PENN Entertainment, Sportradar Group, and Caesars Entertainment, which saw declines of 3.1%, 0.5%, and 4.9% respectively [2][6] Technical Indicators - WYNN is trading above its 50-day moving average of $83.49 and its 200-day moving average of $86.41, indicating positive market sentiment and confidence in the company's financial health [8] Growth Drivers - The company benefits from stable mass gaming trends in Macau and strong non-gaming performance in Las Vegas, reporting a 4% year-over-year increase in total casino revenues in Q1 2025 [9] - The opening of the Gourmet Pavilion food hall at Wynn Palace has increased daily restaurant covers by approximately 2,400, indicating higher visitor traffic [10] - Continued progress on the Wynn Al Marjan Island project in the UAE is expected to support growth, with construction reaching the 47th floor [11] Capital Allocation and Shareholder Value - Wynn Resorts repurchased 2.36 million shares for about $200 million in Q1, reflecting a commitment to returning value to shareholders [12] Valuation - The company is currently trading at a discount compared to industry peers on a forward 12-month price-to-earnings (P/E) ratio basis, making it an attractive option for investors [15] Challenges - Tariff-driven cost pressures are affecting operations, particularly in the U.S. food and beverage segment, with ongoing projects experiencing delays due to higher tariff rates [16][17] - Wall Street analysts have revised earnings expectations downward, reflecting a 22.1% year-over-year decline for 2025 [19]

Casino stock Wynn Resorts Inc (NASDAQ:WYNN) is trading 1.9% lower at $88.83 at last check, starting off June on a sour note. The shares are eyeing their fourth-straight loss, extending a pullback from their May 15 five-month highs, and testing support at the $90 level today. Plus, if past is precedent, WYNN could be due for even more losses. Schaeffer's Senior Quantitative Analyst Rocky White compiled a list of the 25 worst S&P 500 Index (SPX) stocks to own in June, going back a decade, and Wynn Resorts sto ...

Core Viewpoint - Wynn Resorts has decided to withdraw its bid for a casino license in New York, citing better uses for its capital and acknowledging persistent opposition in the rezoning process [1] Group 1: Company Actions - Wynn Resorts has surrendered to the inevitability of "years of persistent opposition" in the New York casino licensing process [1] - The company plans to redirect its capital towards stock buybacks and ongoing developments, including a casino resort in the UAE [6] - Las Vegas Sands has also abandoned its pursuit of a New York gaming license, citing competition from potential iGaming legalization [2] Group 2: Industry Context - The casino licensing process in New York is perceived as highly politicized and expensive, with delays affecting potential operators [4] - MGM Resorts and Resorts World are seen as frontrunners for two of the three licenses due to their existing gaming operations [4] - Other companies, such as Hard Rock International and Caesars, are actively pursuing casino developments in New York [5]

Group 1 - Investors in Wynn Resorts, Limited (WYNN) should monitor stock movements due to high implied volatility in the options market, particularly the June 20, 2025 $47.5 Call option [1] - Implied volatility indicates market expectations for significant price movement, suggesting potential upcoming events that could lead to a rally or sell-off [2] - Wynn Resorts currently holds a Zacks Rank 3 (Hold) in the Gaming industry, which is in the bottom 44% of the Zacks Industry Rank, with recent earnings estimates showing a decrease from $1.33 to $1.24 per share [3] Group 2 - The high implied volatility for Wynn Resorts may indicate a developing trading opportunity, as options traders often seek to sell premium on such options to capture decay [4]

Group 1 - Wynn Resorts, Limited reported weaker-than-expected Q1 earnings primarily due to underperformance in Macau operations [1] - The company's U.S. operations also experienced declining earnings during the same quarter [1] - The report was released on May 6th after market close [1] Group 2 - The investment philosophy highlighted focuses on identifying mispriced securities by understanding the drivers behind a company's financials [1] - A DCF model valuation is emphasized as a key methodology for assessing investment opportunities [1] - This approach allows for a comprehensive evaluation of a stock's prospects, considering various investment styles [1]

Core Viewpoint - Wynn Resorts, Limited reported first-quarter 2025 results with earnings and revenues missing the Zacks Consensus Estimate, showing a year-over-year decline in both metrics [1][3][20]. Financial Performance - Adjusted earnings per share (EPS) for the quarter were $1.07, missing the consensus estimate of $1.22 by 12.3%, down from $1.59 in the prior-year quarter [3]. - Quarterly operating revenues totaled $1.7 billion, missing the consensus mark of $1.73 billion by 1.5%, and fell 8.7% year-over-year [3]. - Adjusted property EBITDAR was $532.9 million, compared to $646.5 million in the prior-year quarter [15]. Segment Performance - Wynn Palace's operating revenues were $535.9 million, down from $586.9 million in the prior-year quarter, with casino revenues declining 6.2% to $444.5 million [4]. - Wynn Macau's operating revenues amounted to $329.9 million, down from $411.7 million, with casino revenues decreasing 20.4% to $275.6 million [7]. - Las Vegas operations generated $625.3 million in revenues, slightly down from $636.5 million, with casino revenues increasing 19.1% to $161 million [11]. - Encore Boston Harbor's operating revenues were $209.2 million, compared to $217.8 million in the prior-year quarter, with casino revenues falling 4.1% to $159.4 million [13]. Operational Metrics - Revenue per available room (RevPAR) declined 34.5% year-over-year to $218, with an occupancy rate of 98.3% [6]. - In the VIP segment, table games turnover was $4 billion, up 2.1% year-over-year, but the win rate decreased to 2.61% from 3.3% [5]. - Table drop in the mass market segment was $1.7 billion, down from $1.78 billion in the prior-year quarter [5]. Cash Position - As of March 31, 2025, cash and cash equivalents totaled $2.07 billion, down from $2.43 billion in the previous quarter, with total outstanding debt at $10.55 billion [17].

Wynn Resorts 1Q25 Earnings Presentation May 2025 1 The World's Only Global Luxury Integrated Resort Developer and Operator Preeminent global designer, developer, and operator of integrated resorts, and the only gaming company which is vertically integrated across all three disciplines Forward-Looking Statements This presentation contains forward-looking statements regarding operating trends and future results of operations. Such forward-looking statements are subject to a number of risks and uncertainties t ...

Earnings Performance - Wynn Resorts reported quarterly earnings of $1.07 per share, missing the Zacks Consensus Estimate of $1.22 per share, and down from $1.59 per share a year ago, representing an earnings surprise of -12.30% [1] - The company posted revenues of $1.7 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 1.52%, and down from $1.86 billion year-over-year [2] Market Performance - Wynn shares have lost about 3.7% since the beginning of the year, compared to the S&P 500's decline of -3.9% [3] Future Outlook - The current consensus EPS estimate for the coming quarter is $1.28 on revenues of $1.75 billion, and for the current fiscal year, it is $4.96 on revenues of $7.03 billion [7] - The estimate revisions trend for Wynn is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Industry Context - The Gaming industry, to which Wynn belongs, is currently in the bottom 45% of the Zacks industry rankings, suggesting potential challenges ahead [8] - Another company in the same industry, International Game Technology (IGT), is expected to report a significant decline in earnings, with a projected EPS of $0.14, down 69.6% year-over-year, and revenues expected to be $632.03 million, down 40.8% from the previous year [9][10]

Wynn Resorts (WYNN) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Julie Cameron-Doe - CFOCraig Billings - CEOBrian Gullbrants - Chief Operating Officer - North American OperationsDavid Katz - Managing DirectorStephen Grambling - Managing DirectorRobin Farley - Managing DirectorJohn Decree - Director - Equity Research Conference Call Participants Carlo Santarelli - AnalystShaun Kelley - Senior Research Analyst & MD - Gaming, Lodging & Leisure EquitiesBrandt Montour - Director, Equity Re ...

Financial Performance - Operating revenues for Q1 2025 were $1,700,397, a decrease of $162,512 or 8.7% compared to Q1 2024[101]. - Net income attributable to Wynn Resorts, Limited for Q1 2025 was $72,747, down $71,469 or 49.6% from $144,216 in Q1 2024[102]. - Average daily rate (ADR) and revenue per available room (REVPAR) decreased across properties, contributing to lower overall revenues[102]. - Macau Operations reported total revenues of $865,889 for Q1 2025, a decline of $132,756 or 13.3% from $998,645 in Q1 2024[104]. - Casino revenues for Q1 2025 were $1,040,430, down $81,036 or 7.2% from $1,121,466 in Q1 2024, representing 61.2% of total operating revenues[105]. - Non-casino revenues decreased to $659,967 in Q1 2025, a drop of $81,476 or 11.0% compared to $741,443 in Q1 2024[105]. Casino Operations - Total casino revenues for Wynn Palace decreased by $29.3 million, or 6.2%, from $473.8 million in 2024 to $444.5 million in 2025[107]. - Total casino revenues for Wynn Macau decreased by $70.8 million, or 20.4%, from $346.4 million in 2024 to $275.6 million in 2025[107]. - Total casino revenues for Las Vegas Operations increased by $25.8 million, or 19.1%, from $135.2 million in 2024 to $161.0 million in 2025[108]. - The decrease in operating revenues was largely driven by lower VIP win as a percentage of turnover and mass market table games win in Macau[101]. - VIP win percentage in Macau is expected to range between 3.1% to 3.4%, while table games win percentage in Las Vegas is projected at 22% to 26%[98][99]. Expenses and Financial Metrics - Total operating expenses decreased by $68.2 million, or 4.5%, from $1.5 billion in 2024 to $1.4 billion in 2025[112]. - Casino expenses decreased by $40.6 million, or 6.0%, primarily due to lower gaming tax expenses[112]. - Interest expense decreased by $24.8 million due to a reduction in the weighted average debt balance from $11.92 billion in 2024 to $10.94 billion in 2025[117]. - Cash flows from operating activities decreased to $133.8 million for the three months ended March 31, 2025, from $315.1 million in 2024[132]. - Income tax expense decreased to $11.0 million for the three months ended March 31, 2025, from $20.0 million in 2024[121]. Shareholder Returns and Capital Management - The company repurchased 2,504,560 shares of common stock for an aggregate cost of $212.0 million during the three months ended March 31, 2025[138]. - A cash dividend of $0.25 per share was declared, with a total of $26.8 million recorded against accumulated deficit[150]. - The company authorized a $1.00 billion share repurchase program, with $613 million remaining as of March 31, 2025[152]. - The company plans to pay a final dividend of HK$0.185 per share on June 11, 2025, subject to shareholder approval[143]. Investments and Future Plans - Wynn Resorts has a 40% equity interest in Island 3, which is constructing an integrated resort in Ras Al Khaimah, UAE[92]. - The company is reassessing $375 million in planned enhancements at Wynn Las Vegas due to uncertainties regarding tariffs[146]. - Wynn Al Marjan Island FZ-LLC entered a $2.4 billion delayed draw secured term loan facility for development financing[156]. - The company contributed $51.2 million to Wynn Al Marjan Island, with remaining equity requirements estimated between $650 million and $725 million[149]. Currency and Debt Management - As of March 31, 2025, approximately 76% of long-term debt was fixed rate, with a potential $19 million change in annual interest expense from a 100 basis point rate change[162]. - The company entered into foreign currency swaps totaling $2.9 billion to manage exchange rate risks associated with U.S. dollar denominated senior notes[164]. - An assumed 1% change in the U.S. dollar/Hong Kong dollar exchange rate could result in a gain/loss of $12.5 million to income before taxes[165]. - The company incurred a foreign currency remeasurement loss of $8.4 million for the three months ended March 31, 2025, compared to a loss of $4.7 million for the same period in 2024[119]. - The company recorded a loss of $29.5 million from changes in derivatives fair value for the three months ended March 31, 2025, compared to a loss of $17.9 million in 2024[120].