Core Insights - Wynn Resorts, Limited (WYNN) is valued at a market cap of $12.9 billion and operates high-end integrated resorts, primarily in Las Vegas and Macau [1][2] Company Overview - WYNN is classified as a large-cap stock due to its market cap exceeding $10 billion, highlighting its size and influence in the resorts and casinos industry [2] - The company is recognized for its premium brand positioning and strong service quality, with significant exposure to high-end tourism and gaming demand, especially in Macau [2] Stock Performance - WYNN is currently trading 6.3% below its 52-week high of $134.72, reached on December 1, and has rallied 2.8% over the past three months, outperforming the Consumer Discretionary Select Sector SPDR Fund (XLY) which returned 1.2% [3] - Over the past 52 weeks, WYNN shares have surged 33.6%, significantly outpacing XLY's 3.4% increase, and on a year-to-date basis, shares are up 46.5% compared to XLY's 8.5% rise [4] Analyst Ratings - On December 1, shares of WYNN rose 3.7% after Goldman Sachs added the stock to its "Conviction Buy" list, citing strong performance in Las Vegas and improving conditions in Macau [5] - Goldman Sachs reiterated its "Buy" rating and set a price target of $145, supported by a 14.4% year-over-year increase in Macau gaming revenue for November, marking ten consecutive months of growth [5] Competitive Position - WYNN has outperformed its rival, Las Vegas Sands Corp. (LVS), which gained 24.4% over the past 52 weeks and 30.4% year-to-date [6]

Core Viewpoint - Wynn Resorts, Limited is positioned as a strong investment opportunity in the sin stock category for 2026, with JPMorgan raising its price target from $138 to $145 following positive developments in the UAE market [1]. Group 1: Financial Projections - JPMorgan's analysis suggests that the UAE is becoming a competitive market for attracting ultra-high-net-worth individuals, similar to Singapore, enhancing the outlook for Wynn Resorts [2]. - Macquarie indicates that the gross gaming revenues for the Wynn Al Marjan Island development could exceed $2 billion annually, reflecting a potentially conservative estimate [2]. - Non-gaming revenue from retail and other features is projected to reach between $200 million and $400 million yearly, contributing to the overall financial health of Wynn Resorts [3]. Group 2: Market Impact - The anticipated demand in Ras Al Khaimah is expected to outstrip hotel room supply, which may help maintain consistent EBITDA for Wynn Resorts into 2029 and beyond [3]. - Macquarie estimates that the developments at Wynn Al Marjan Island could increase WYNN's share price by $25 to $50, indicating strong market confidence in the project [3]. Group 3: Company Overview - Wynn Resorts, Limited operates as a luxury hotel and casino operator, known for its premium resort experiences and high-end properties located in Boston, Macau, and Las Vegas [4].

Core Insights - Wynn Resorts reported improved year-over-year operating revenue growth and a return to profitability in Q3 2025 after experiencing a net loss in the same period last year [1] Financial Performance - The company has shown a significant recovery in its financial performance compared to the previous year, indicating a positive trend in its operations [1]

Core Insights - Wynn Resorts reported improved year-over-year operating revenue growth and a return to profitability in Q3 2025 after experiencing a net loss in the same period last year [1] Financial Performance - The company has shown a significant recovery in its financial performance, indicating a positive trend in its operational efficiency and market demand [1]

Ras Al Khaimah Economic and Tourism Overview - Ras Al Khaimah's GDP is projected to reach $17.7 billion by 2030, with a 7.6% CAGR [29] - The population is expected to grow from 400,000 in 2024 to 620,000 by 2030, representing a 6.7% CAGR [29] - Ras Al Khaimah plans ~$35 billion in development and infrastructure spending [34] - Ras Al Khaimah anticipates 11.2 million visitors by 2030 [51] - The number of hotel rooms in Ras Al Khaimah is expected to increase by 8,800 by 2030 [51] Wynn Al Marjan Island Project - The Wynn Al Marjan Island tower will be 353 meters (1,158 feet) tall [88] - Of the $5.1 billion total budget, approximately 67%, or $3.4 billion, is either spent or fully bought out [83] - The project is pacing towards a Q1 2027 opening [78] UAE Gaming Market Potential - The UAE gaming market is estimated to have a GGR of $3 billion to $5 billion, with Wynn potentially capturing $1.0 billion to $1.7 billion [126] Financial Projections for Wynn Al Marjan Island - The project anticipates a steady-state adjusted property EBITDAM between $500 million and $800 million [141] - Wynn's share of free cash flow plus management/license fees is projected to be between $180 million and $370 million [141] - The projected return on invested capital (project return) is between 9.8% and 15.7% [141]

Market Overview - Major U.S. equities indexes experienced declines, with the S&P 500 and Nasdaq down approximately 0.2%, and the Dow dropping 0.4% [1][2]. Cryptocurrency Sector - Coinbase Global (COIN) was one of the largest decliners in the S&P 500, with shares falling about 6% due to a drop in Bitcoin and other major cryptocurrencies [2]. - Robinhood Markets (HOOD) shares also decreased by nearly 5% amid the same market conditions [2]. Other Notable Stocks - Moderna (MRNA) shares fell 6% following calls for a stricter vaccine approval process from a Food and Drug Administration official [2]. - Sandisk (SNDK) shares dropped close to 7%, reversing previous gains after its addition to the S&P 500 [3]. - Old Dominion Freight Line (ODFL) and J.B. Hunt Transport Services (JBHT) saw increases of about 6% and 4%, respectively, following positive comments from BMO Capital [3]. - Wynn Resorts (WYNN) shares rose around 4% after being placed on Goldman Sachs' conviction buy list, citing its strong business in Las Vegas and potential benefits from improvements in Macao [4]. - Synopsys (SNPS) shares increased by 4% after Nvidia (NVDA) announced a $2 billion investment in the semiconductor design software company [4]. Commodities and Treasury - Oil and gold futures experienced an uptick, while the yield on the 10-year Treasury note rose to 4.09% [5].

Core Viewpoint - Wynn Resorts Ltd's stock has increased by 3.3% to $132.95 after being added to Goldman Sachs' 'Conviction Buy' list, highlighting its strong Las Vegas operations and improvements in Macau [1] Stock Performance - WYNN reached a high of $134.20, close to its four-year high of $134.23 from October 2, and has risen 55% in 2025, with support found at its 100-day moving average during a November drawdown [2] - A sustained move above $134 is significant due to a double top formation on the charts since December [2] Short Interest - There is potential for a modest short squeeze, as short interest has decreased by 5% in recent reporting periods, but 4.40 million shares sold short still represent 5.8% of the stock's total float [4] - At the current trading pace, it would take shorts over four trading days to cover their positions [4] Options Activity - Options traders are heavily favoring calls, with a 10-day call/put volume ratio of 5.83, ranking in the 86th percentile of its annual range, indicating a significant preference for call options over puts [5] - The elevated call buying rate has rarely been higher in the past year [5] Volatility Metrics - Options are currently affordably priced following a post-earnings volatility crush, with a Schaeffer's Volatility Index (SVI) of 36% in the 11th percentile of its annual range [6] - The Schaeffer's Volatility Scorecard (SVS) stands at 78 out of 100, indicating that the stock has historically exceeded options traders' volatility expectations over the past year [6]

Core Insights - Wynn Resorts, Limited will hold an Analyst & Investor UAE Market Tour to discuss the UAE market and the Wynn Al Marjan Island project on December 4, 2025 [1][2] - The event will feature presentations from CEO Craig Billings and the Wynn Al Marjan Island management team, focusing on the resort's expected financial performance [2] - Attendance is by invitation only for institutional investors and analysts, with the investor presentation available on the company's investor relations website [3] Financial Performance - The financial results for the third quarter ended September 30, 2025, were reported by Wynn Resorts, indicating ongoing financial activities and performance metrics [5]

Core Insights - Deep-pocketed investors have adopted a bearish stance towards Wynn Resorts, indicating potential significant market movements ahead [1] - The options activity for Wynn Resorts has shown unusual patterns, with a majority of investors leaning bearish [2] Options Activity Summary - A total of 30 extraordinary options activities were tracked, with 80% of investors bearish and only 13% bullish [2] - Notable options include 6 puts totaling $189,764 and 24 calls amounting to $6,308,747 [2] - The average open interest for Wynn Resorts options is 1,692.1, with total volume reaching 40,791 [4] Price Predictions - The predicted price range for Wynn Resorts is between $125.0 and $165.0 based on recent options activity [3] Company Overview - Wynn Resorts operates luxury casinos and resorts, including properties in Macao and Las Vegas, and is expanding its non-gaming attractions [9] - The company generated 76% of its 2019 pre-pandemic EBITDA from Macao and 24% from the US, with expectations for a more balanced contribution in 2024 [9] Analyst Ratings - Recent expert opinions show an average target price of $144.2 for Wynn Resorts, with varying ratings from different analysts [10][11] - Barclays maintains an Overweight rating with a target price of $141, while Citigroup upgraded to Buy with a target of $160 [11]

Core Viewpoint - Carillon Tower Advisers' "Carillon Eagle Mid Cap Growth Fund" reported a positive performance in the third quarter of 2025, driven by enthusiasm for AI, limited inflationary effects from tariffs, and expectations for interest rate cuts by the U.S. Federal Reserve [1] Market Performance - The equity markets continued their rally, with mid-cap stocks showing positive gains; the Russell Midcap Growth Index increased by 2.78%, while the Russell Midcap® Value Index rose by 6.16% during the quarter [1] Sector Insights - The investor letter provided detailed insights on various sectors including Cyclicals, Healthcare, Information Technology, Financials, and Consumer sectors [1] Company Spotlight: Wynn Resorts, Limited - Wynn Resorts, Limited (NASDAQ:WYNN) reported a one-month return of 1.98% and a 52-week gain of 34.16%, closing at $123.24 per share with a market capitalization of $12.814 billion on November 24, 2025 [2] - The company is recognized as a global luxury resort and casino operator, with significant operations in Las Vegas and Macau; its stock performed well due to steady improvements in gaming operations in Macau, which is crucial as it accounts for over half of the company's earnings [3] Hedge Fund Interest - Wynn Resorts, Limited was held by 52 hedge fund portfolios at the end of the second quarter, an increase from 48 in the previous quarter, indicating growing interest among institutional investors [4]