Wynn Resorts (WYNN) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on February 13, 2025, might help the stock move higher if these key numbers are better tha ...

The Company Receives Highest Ranking for a Casino ResortLAS VEGAS, Feb. 3, 2025 /PRNewswire/ -- Wynn Resorts has once again been recognized on FORTUNE Magazine's World's Most Admired Companies list for 2025, reaffirming its position as the highest-ranked gaming resort company. In addition to being the best ranked casino within the Hotel, Casinos, Resorts category, the Company also scored well in the Quality of Products/Services category."To be recognized on this prestigious list for the seventeenth year in ...

Wynn Resorts, Limited (NASDAQ: WYNN ) announced in January it would acquire Crown London , likely having a minimal effect on earnings but a more meaningful strategic impact for VIP customer acquisition for the UAE project and other locations. TheI am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revolves around identifying mispriced securities by understan ...

Core Viewpoint - Wynn Resorts, Limited (WYNN) is expected to benefit from strong performance in Macau, growth in non-gaming businesses, and ongoing development projects, although rising operating expenses present a concern [1][9]. Group 1: Growth Drivers - Wynn Resorts reported $263 million in EBITDA from Macau in Q3, marking a 3% year-over-year increase, with operating revenues growing by 6% due to a 10% rise in combined mass table and slot win [3]. - October saw a significant increase in mass table drop, with a nearly 30% surge compared to the previous year, and hotel occupancy reached 99% during the Golden Week holiday [3]. - The company is enhancing its food and beverage offerings in Macau, including new venues and a destination food hall set to launch in mid-2025, which are expected to drive future growth [4]. - Las Vegas operations showed sustained demand with normalized revenues up by about 1% year-over-year, and hotel revenues increased by 5% [5]. - The Wynn Al Marjan Island project in the UAE is anticipated to tap into a projected $3 billion to $5 billion gaming market, with construction progressing rapidly [6]. Group 2: Shareholder Value - Wynn Resorts has increased its share repurchase authorization to $1 billion and declared a cash dividend of 25 cents per share, reflecting management's confidence in the company's valuation [7]. - The company reduced gross debt by $1.2 billion year-over-year, resulting in annual interest expense savings of $70 million, which strengthens its balance sheet [7]. Group 3: Concerns - Increased operating expenses are a concern, with casino costs rising to $617.5 million from $577.7 million year-over-year, and general and administrative expenses increasing to $271.8 million from $268.4 million [9]. - In the past year, WYNN shares gained 5%, underperforming the industry average rise of 27.2%, primarily due to a challenging macro environment [8].

Group 1 - The House Edge is recognized as a unique marketplace service in the casino, gaming, and online sports betting sectors, providing researched insights and analysis [1] - Howard Jay Klein, with 30 years of experience in major casino operations, leads The House Edge and focuses on value investing based on management quality [2] - The intelligence network of Howard Jay Klein spans across various levels in the US gambling and entertainment sectors, enhancing the quality of the research provided [2] Group 2 - The House Edge has consistently outperformed standard analyst guidance, delivering superior returns to its readers [1]

Core Insights - Wynn Resorts' stock price increased by 9% following news of billionaire Tilman Fertitta increasing his ownership stake to 9.9% [1][2] - Over the past 20 years, Wynn's stock has seen a 57% increase, significantly lower than Marriott's 950% gain during the same period [2] - Wynn's third-quarter earnings fell short of expectations for revenue and adjusted property EBITDA in both Macao and Las Vegas, indicating a potential softening in performance [4] Company Developments - Tilman Fertitta, CEO of Landry's and owner of the Houston Rockets, is planning a new 43-story casino resort on the Las Vegas Strip [3] - Wynn Resorts has a 40% stake in a new integrated casino-resort being developed in Ras Al Khaimah, UAE, with a projected cost of $5.1 billion [6] - Fertitta's increased stake positions him as the second-largest individual shareholder in Wynn, surpassing cofounder Elaine Wynn [7] Land and Development Concerns - Analysts have raised questions regarding Wynn's plans for 162 acres of land in Las Vegas, which includes a 128-acre golf course and a 38-acre parcel [5] - Jefferies analyst David Katz estimated the land's value at slightly over $2 billion, but noted a lack of evident plans for development or sale [5] - Some investors have expressed concerns that Wynn is diluting its luxury brand and hospitality status while focusing on new gaming markets in the Middle East [5]

Core Viewpoint - Wynn Resorts is experiencing a decline in market share in Macao, the largest gaming market globally, due to increasing competition and disappointing financial results [1] Company Summary - Wynn Resorts' stock has fallen following the announcement of disappointing results in Macao [1] - The company is investing heavily in uncertain resort expansions worldwide, which is contributing to its financial challenges [1] Industry Summary - The gambling market in Macao is becoming increasingly competitive, impacting the performance of established players like Wynn Resorts [1]

Core Insights - Wynn Resorts shares fell significantly after the company reported third-quarter results that missed profit and sales forecasts, primarily due to a slowdown in Las Vegas operations [1][2] - The company reported a third-quarter loss of $0.29 per share, with adjusted earnings of $0.90 per share, both below analysts' expectations. Revenue increased by 1.3% year-over-year to $1.69 billion, but still fell short of forecasts [1][2] Financial Performance - Las Vegas operating revenue declined by 1.9% to $607.2 million, while adjusted EBITDAR dropped by 7.7% to $202.7 million [2] - Mixed results were observed in Macau, with operating revenue increasing by 19.3% at Wynn Macau, but declining by 1% at Wynn Palace. Encore Boston Harbor saw a 1.8% increase in revenue [2] Investments and Future Outlook - The company invested $18.2 million in a joint venture under construction in the UAE, which is expected to become a significant tourism destination according to CEO Craig Billings [2] - Wynn Resorts shares experienced a nearly 10% drop in trading and have lost over 5% of their value since the beginning of the year [2]

Core Viewpoint - Wynn Resorts, Limited reported lower-than-expected third-quarter 2024 results, with adjusted earnings and operating revenues missing consensus estimates, although the top line showed year-over-year growth while the bottom line declined [1][4][5]. Financial Performance - Adjusted earnings per share (EPS) were 90 cents, missing the Zacks Consensus Estimate of $1.17 by 23.1%, down from 99 cents in the prior-year quarter [4]. - Quarterly operating revenues were $1.69 billion, missing the consensus mark of $1.74 billion by 2.4%, but increased 1.2% year-over-year [5]. - Adjusted property EBITDAR was $527.7 million, slightly down from $530.4 million in the prior-year quarter [15]. Segment Performance - Wynn Palace's operating revenues declined to $519.8 million from $524.8 million year-over-year, with casino revenues flat at $418 million [6]. - Wynn Macau's operating revenues increased to $352 million from $295 million year-over-year, with casino revenues up 28.9% to $296.8 million [9][10]. - Las Vegas operations generated $607.2 million in revenues, down from $619 million in the prior-year quarter, with casino revenues declining 13.6% to $145.2 million [12]. - Encore Boston Harbor's operating revenues increased to $214.1 million from $210.4 million year-over-year, with casino revenues rising 1.8% to $158.7 million [14]. Operational Metrics - Revenue per available room (RevPAR) declined 12.7% year-over-year to $289, with occupancy levels at 98.3% compared to 96.9% in the prior year [8]. - In the VIP segment, table games turnover was $3.2 billion, up 11.6% year-over-year, while the win rate decreased to 3% from 3.4% [7]. - Table drop in the mass market segment was $1.69 billion, down from $1.73 billion in the prior-year quarter, with table game wins amounting to $404.3 million [7]. Cash Position and Debt - As of September 30, 2024, cash and cash equivalents totaled $2.41 billion, down from $2.88 billion as of December 31, 2023 [17]. - Total current and long-term outstanding debt was $11.79 billion, including $1.46 billion related to Wynn Las Vegas and $6.41 billion of Macau debt [17].

Core Viewpoint - Wynn Resorts reported a revenue of $1.69 billion for Q3 2024, showing a year-over-year increase of 1.3%, but fell short of the Zacks Consensus Estimate by 2.39% [1] Financial Performance Summary - Earnings per share (EPS) for the quarter was $0.90, down from $0.99 a year ago, representing a surprise of -23.08% against the consensus estimate of $1.17 [1] - Room occupancy rate at Wynn Las Vegas was 89%, slightly below the average estimate of 89.9% [3] - Table Drop for Las Vegas Operations was reported at $580.80 million, compared to the average estimate of $597.84 million [3] - Average daily room rate at Wynn Las Vegas was $495, lower than the estimated $502.85 [3] - Slot Machine Handle for Las Vegas Operations reached $1.70 billion, exceeding the average estimate of $1.62 billion [3] - Operating revenues for Las Vegas Operations were $607.17 million, below the average estimate of $619.31 million, marking a year-over-year decline of 1.9% [3] - Operating revenues for Encore Boston Harbor were $214.12 million, slightly above the estimated $211.79 million, reflecting a year-over-year increase of 1.8% [3] - Operating revenues for Macau Operations were $871.75 million, compared to the estimated $891.47 million, showing a year-over-year increase of 6.3% [3] - Operating revenues for Wynn Macau were $351.96 million, exceeding the average estimate of $344.04 million, with a year-over-year increase of 19.3% [3] - Operating revenues for Wynn Palace were $519.79 million, below the estimated $553.43 million, reflecting a year-over-year decline of 1% [3] - Over the past month, shares of Wynn have returned -9.3%, contrasting with the S&P 500 composite's +0.4% change [3]