2024-07-07 07:53:25 ET
Summary
- Wynn has been under-performing in 2024 and I believe that will continue.
- The lack of presence in online sports betting industry and closure of online operations in most states limits the company's ability to capitalize on the growing US sports betting trends.
- While recent numbers out of Macau were encouraging, lower travel figures in the immediate term present a headwind for Q2 figures.
Main Thesis & Background
The purpose of this article is to evaluate Wynn Resorts, Limited (WYNN) as an investment option at its current market price. The company owns and operates Wynn Las Vegas, Encore Boston Harbor, Wynn Macau, and Wynn Palace in Cotai and is a designer , developer, and operator of integrated resorts featuring luxury hotel rooms, high-end retail space, an array of dining and entertainment options, meeting and convention facilities, and gaming"....
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Wynn Resorts: Still Lacking A Clear Buy Case