- 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
Heard during Wynn Resorts' earnings call
Jan 31 2014, 10:21 ET