2024-04-08 11:50:47 ET
Summary
- Wynn Resorts has a long history of outperforming its rivals in the gaming industry, thanks to innovative marketing strategies and a focus on high-end customers.
- Despite facing headwinds from the COVID-19 pandemic, Wynn has resumed its price leadership and continues to trade at a premium compared to its peers.
- The company is expected to see strong revenue growth in 2023, driven by the recovery in Macau and a positive outlook for its Vegas properties. A forward P/E ratio of 20 to 22 makes Wynn a strong buy.
Premise : Tracking the shares of Wynn Resorts (WYNN) for over 44 years has covered my career, as a publisher of the first ever gaming business publication, to my c-suite career as a gaming executive, and subsequently as a consultant and financial analyst. It has also afforded me over time many one on one industry discussions with its eponymous founder Steve Wynn....
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Wynn Resorts: Undiscovered Alpha Lies In Its Sustaining Premium Price Over Peers