Heard during Wynn Resorts' earnings call


Wynn Resorts (WYNN +2.7%) followed rivals in Macau by discounting to the mass market which helped drive up traffic and sales. Steve Wynn says the company still trails the levels of discounting of peers by a decent margin, but saw business "run" back to it as the company caved a bit.

Wynn notes improved hotel bookings and hotel occupancy rates in Las Vegas for 2014, but remains "cautious" on predicting a boom. He steers into a political vent by noting everything coming out of Washington D.C. adds to the company's operating expenses.

The casino operator remains optimistic it can beat back challengers on the East Coast in new markets such as Boston or Philadelphia.

Wynn on Wynn: "There isn't a player in New England or Pennsylvania, New Jersey, Delaware or New York that won't come to a Wynn if they can get to it."

Wynn Resorts earnings call transcript

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Comments (1)
  • 153972
    , contributor
    Comments (1267) | Send Message
     
    Mr. Wynn ought to stick to his knitting and remain mum on the conference calls about politics. His rants about Washington, i.e., code for Obama bashing have become tiresome.
    If he doesn't think that this president is causing an egregious impact to his casino and lodging business in the US, then sell it and move your headquarters to Macau where the communists can regulate you.
    31 Jan 2014, 01:26 PM Reply Like
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