Core Viewpoint - Wynn Resorts Ltd. shares have declined 4.7% year-to-date, trading closer to its 52-week lows, while the S&P 500 index has risen 16.69% YTD, presenting a potential buying opportunity for investors [1] Group 1: Market Conditions - The closure of Tropicana and Mirage in Las Vegas will reduce room capacity by nearly 5%, potentially increasing demand for existing hotels like Wynn [2] - Investor sentiment in Las Vegas remains low due to rising labor costs and macroeconomic uncertainty, but average daily room rates are increasing, indicating room for growth as occupancy has not yet returned to pre-pandemic levels [3] - Macau's gross gaming revenue rose 16.4% YoY to $2.5 billion in May 2024, with a 41.9% YoY increase for the first half of 2024, reaching 74% of its 2019 pre-pandemic level [4] Group 2: Strategic Developments - Wynn Resorts is advancing plans for a hotel-casino in Ras Al Khaimah, UAE, where gambling laws are softening, with projected gross gaming revenue of $1.38 billion and net revenue of $1.8 billion [5] - Analysts have upgraded WYNN shares following a strong Q1 2024 performance, with EPS of $1.59 and revenues of $1.86 billion, leading to a consensus rating of "Moderate Buy" [6] Group 3: Technical Analysis - WYNN stock is forming a bullish shark pattern, with potential upside targets of $99.06 and $110.38, indicating a possible rebound in stock price [7]

The Grand Lisboa and Wynn casino, Macau, China. (Photo by: Bob Henry/UCG/Universal Images Group via ... [+] Getty Images)UCG/Universal Images Group via Getty ImagesWynn stock currently trades at $92 per share, roughly 34% below its pre-inflation shock high of $140 seen on March 17, 2021. The stock was impacted by the Macau operations, which saw business largely collapse over 2021 and 2022, due to stringent Covid-19 restrictions which hurt tourist inflows into the region. Now the situation in the Macau gamin ...

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) are a ways away from their April 4, nearly 52-week high of $110.38. In fact, WYNN is 1.1% lower at 93.84 at last glance, now down 7.9% this quarter and pulling back to its year-to-date breakeven level. What's more, a bout of seasonality is looming that could send Wynn Resorts stock lower still.According to data from Schaeffer's Senior Quantitative Analyst Rocky White, Wynn Resorts is the third worst stock on the S&P 500 Index (SPX) to own in June, looking back o ...

Wynn Resorts, Limited (WYNN) will likely benefit from solid Macau performance, non-gaming businesses and development projects. Also, focus on strategic expansion plans bodes well. However, increased operating expenses are a concern.Let us discuss the factors that highlight why investors should retain the stock.Factors Likely to Drive GrowthWynn Resorts has been benefitting from solid Macau performance. Following the elimination of COVID-19 protective measures by Macau authorities in January 2023, visitation ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.It also includes access to the Zacks Style Scores.W ...

Wynn Resorts, Limited (WYNN) reported impressive first-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Also, the top and the bottom line rose year over year.During the quarter, the company reported strong performance in non-gaming businesses, with 16% year-on-year revenue growth. The upside was primarily driven by a 21% increase in hotel revenues and healthy casino volumes. In Las Vegas, WYNN’s emphasis on superior service, continuous property reinvestment and exclu ...

For the quarter ended March 2024, Wynn Resorts (WYNN) reported revenue of $1.86 billion, up 30.9% over the same period last year. EPS came in at $1.59, compared to $0.29 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $1.77 billion, representing a surprise of +5.05%. The company delivered an EPS surprise of +11.19%, with the consensus EPS estimate being $1.43. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Wynn Resorts, Limited (NASDAQ:WYNN) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET Company Participants Julie Cameron-Doe - CFO Craig Billings - CEO Brian Gullbrants - COO, North America Conference Call Participants Carlo Santarelli - Deutsche Bank Joseph Greff - JPMorgan Shaun Kelley - Bank of America Daniel Politzer - Wells Fargo John DeCree - CBRE Robin Farley - UBS Benjamin Chaiken - Mizuho David Katz - Jefferies Operator Welcome to the Wynn Resorts First Quarter Earnings Call. All participants ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 000-50028 WYNN RESORTS, LIMITED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizati ...

"The strong momentum we experienced in our business throughout 2023 continued to build during the first quarter with Adjusted Property EBITDAR reaching a new all-time record. The investments we have made in our properties, our team and our unique programming continue to extend our leadership position in each of our markets," said Craig Billings, CEO of Wynn Resorts, Limited. "On the development front, vertical construction on the hotel tower at Wynn Al Marjan Island is well underway, and we are confident th ...