WYNN
Wynn Resorts Limited
Consumer
02/09/2015
Presented
| Date | 02/06/2015 |
| Price | $146.24 |
| Market Cap | $14.80B |
| Ent Value | $19.21B |
| P/E Ratio | 20.99x |
| Book Value | $0.94 |
| Div Yield | 4.1% |
| Shares O/S | 101.26M |
| Ave Daily Vol | 1,850,000 |
| Short Int | 4.82% |
Current
| Price | $99.22 |
| Market Cap | $11.01B |
| Wynn Resorts, Limited, together with its subsidiaries, develops, owns, and operates destination casino resorts. It operates in two segments, Macau Operations and Las Vegas Operations. The company operates Wynn Macau and Encore at Wynn Macau resort located in the People’s Republic of China. Its Macau resorts feature two luxury hotel towers with a total of 1,008 rooms and suites; 493 table games; 866 slot machines; a poker pit in approximately 280,000 square feet of casino gaming space; 8 restaurants; 2 spas and 1 salon; lounges; meeting facilities; 2 health clubs and spas; and approximately 57,000 square feet of retail space featuring boutiques, as well as a show in the rotunda. The company also owns and operates Wynn Las Vegas and Encore at Wynn Las Vegas resort with a total of 4,748 hotel rooms, suites, and villas; 230 table games; 1,854 slot machines; a race and sports book and poker room in approximately 186,000 square feet of casino gaming space, including a sky casino and private gaming salons; 34 food and beverage outlets; 2 spas and salons; lounges; and approximately 96,000 square feet of retail space featuring various boutiques. Its Las Vegas resorts also offer 3 nightclubs; a beach club; a Ferrari and Maserati automobile dealership; wedding chapels; an 18-hole golf course; approximately 283,000 square feet of meeting space; a theater; and an Encore theater presenting various headliner entertainment acts, as well as provides 2 showrooms and a beach club. Wynn Resorts, Limited was founded in 2002 and is based in Las Vegas, Nevada. |
Publicly traded companies mentioned herein: Galaxy Entertainment Group Ltd (27 HK),Las Vegas Sands Corp (LVS), Wynn Resorts Ltd (WYNN), Wynn Macao Ltd (1128 HK)
Highlights
Shares of Wynn Resorts (WYNN) have rebounded slightly from recent lows to ~$146, but are way off of recent highs (shares traded over $200 for most of the first half of 2014). The presenter has been short, and thinks the stock has adjusted rationally to the recent issues in Macau and earnings revisions. The way he sees it, “everything is going the wrong way for WYNN right now” and there’s no reason to cover. Having said that, he acknowledged that shares could trend higher near-term and thinks adding to the short position on strength may make sense. The pivotal issue for the casino resort operator is the backdrop in Macau, and the terrible timing of the $4+ billion construction of the new Wynn Palace on the Cotai strip (which, “could end up an Atlantic City-like situation, and the resort just never opens properly,” said the presenter).
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