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Wynn Resorts, Limited (WYNN)

  • Apr. 29, 2013, 10:32 AM
    Caution is in order with Wynn Resorts (WYNN -0.3%) until the dispute over Elaine Wynn's sizable stake in the company gets worked out, warns SA contributor Sammy Pollack. In its recent annual report, Wynn Resorts admitted its business would be "significantly impaired" if it lost the services of Steve Wynn - but on the flip side those betting against the exec typically haven't fared well. (Previous: She won't just be ignored)
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  • Apr. 26, 2013, 10:37 AM
    She won't just be ignored: Wynn Resorts (WYNN -0.5%) showed a stronger-than-expected profit in Q1 as Macau rebounded during the period but a mini-drama is developing in a Las Vegas courtroom which may determine how much control Steve Wynn may have on the company in the future. Ex-wife Elaine Wynn wants to sell shares valued at $1.287B (and controlled by Steve Wynn) - meaning a judge's ruling on the issue could leave the exec vulnerable if she wins the right. (earnings, wrapup, conference call)
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  • Apr. 26, 2013, 7:56 AM
    It won't be seen on the transcript (read it here), but Steve Wynn seemed to literally slam the table as he brought home the point during Wynn Resorts' (WYNN) earnings call that regional casinos are nothing but "boxes of slots." The exec is convinced that the premium Wynn experience will play well in new markets such as Boston and Philadelphia where the firm is vying for licenses to pressure regional operators. The burning sector question: How much of a hit will regional casino operators (PENN, MCRI, ASCA, ISLE, BYD, CNTY, PNK) take as big Vegas companies expand more into their turf?
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  • Apr. 25, 2013, 5:01 PM
    Heard during Wynn Resorts' (WYNN) earnings call: 1) VIP activity in Macau still looks promising as the firm says it has lined up deals with new junket operators. 2) Despite the forecasts for stellar growth, execs note rivals are keeping Wynn "on its toes" in Macau. 3) Steve Wynn says there is nothing new to do in the business except the basics better. The Wynn translation seems to be the firm needs to hope for an improved economy. 4) On Cotai, mass transit links to Wynn's new casino set up well to keep mass market traffic high. 5) Steve Wynn doesn't seem to be a fan of online gaming at all, but Wynn won't be left behind as it cautiously looks at opportunities. WYNN -0.6% AH. (webcast)
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  • Apr. 25, 2013, 4:30 PM
    More on Wynn Resorts (WYNN) FQ1: All eyes on Macau where table games turnover was $28.4B (-15.3% Y/Y) in the VIP segment and $243.1B (+13.6%) in the mass market segment. Las Vegas operations showed a 6.6% increase in revenue as room, food, and beverage sales contributed to offset a slip in entertainment revenue. The company spent $76.3M on its massive project in Cotai during the period. WYNN +0.3% AH. (PR)
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  • Apr. 25, 2013, 4:08 PM
    Wynn Resorts (WYNN): FQ1 EPS of $2.03 beats by $0.48. Revenue of $1.379B (+4.4% Y/Y) beats by $20M. Shares +1.9% AH. (PR)
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  • Apr. 25, 2013, 10:12 AM
    Casino watch: JPMorgan tips off that Las Vegas Sands (LVS +2.6%) could see an unexpected Q1 surprise from the Venetian Macao as the new property generates mass revenue at a faster pace than rival casinos. The first quarter earnings parade for the Macau gaming sector (MPEL, MGM, [{WYNN]]) launches today with Wynn Resorts. While channel checks by investment firms indicate strong April traffic in Macau despite the avian bird flu concerns, a confirmation from Wynn could really light up the sector.
  • Apr. 24, 2013, 9:02 AM
    The channel checks are in but analyst estimates for Macau gaming revenue in April still vary widely. At the top end is CLSA Asia Pacific Markets with an estimate for 10%-15% growth, while Nomura only sees a 8% to 12% gain. What to watch: Despite the monthly jumps which rattle Macau casino players (MPEL, WYNN, MGM,LVS), the long-term trend looks positive as worries that a government crackdown on corruption would affect high rollers fade.
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  • Apr. 23, 2013, 7:36 AM
    The World Health Organization confirms that there is no evidence the H7N9 avian bird virus spreads from human to human contact. The news is good for Macau-based casinos (MPEL, WYNN, MGM) but won't do much to help Yum Brands (YUM) in the region. The company said earlier this month it suffered a "significant, negative impact" on KFC sales due to worries of chicken contamination in China, but investors are still waiting to hear just how bad the hit will be.
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  • Apr. 22, 2013, 11:46 AM
    Gaming revenue is tracking 13% to 15% higher Y/Y in Macau, according to estimates from Wells Fargo. The projection falls in line with numbers from other investment firms and is another indication that the avian bird flu situation in China isn't cutting into Macau traffic dramatically.
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  • Apr. 15, 2013, 2:26 PM
    RBC Capital Markets says gambling revenue rose in Macau 14.6% during the first week in April despite concerns over the bird flu epidemic. The overall sense from the region is that casino traffic will remain strong unless a human-to-human transmission of the illness is reported.
  • Apr. 10, 2013, 12:53 PM
    U.S. companies paid out an additional $14.5B in dividends on common stock in Q1 as more companies increased their payouts, S&P Dow Jones Indices reports, even as payout rates remain at a historically low 36%. The quarter saw 944 dividend increases, a 39.4% gain Y/Y. By percentage, some of the biggest dividend hikes came from F, WYNN, QCOM, HAL and HD.
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  • Apr. 10, 2013, 10:17 AM
    Casino stocks (BJK) are reacting to a report from the Nevada Gaming Control Board that revenue on the Las Vegas Strip rose 31.7% Y/Y in February to $696M. The news helps take much of the sting off of the poor performance for January. (full gaming win report .pdf)
  • Apr. 10, 2013, 6:52 AM
    The DOJ acknowledges a criminal investigation into Kazuo Okada's Universal Entertainment for possible violations of bribery laws in relation to a casino project in the Philippines. Federal prosecutors asked a Nevada judge for permission to intervene in a lawsuit between Wynn Resorts (WYNN) and Okada as part of their actions and also noted they are probing a donation made by Steve Wynn in 2011 to the University of Macau Development Foundation.
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  • Apr. 9, 2013, 9:21 AM
    Wells Fargo thinks Las Vegas Sands (LVS), Melco Crown (MPEL), and Wynn Resorts (WYNN) should be bought on any weakness tied to the bird flu in China. The investment firm notes that with no human-to-human transmission being reported, traffic trends at Macau casinos should remain strong.
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  • Apr. 8, 2013, 12:15 PM
    The avian virus in China won't escalate to a wide breakout and hurt traffic to Macau casinos, according to RBC Capital Markets. The rosy forecast falls in line with separate reports from Fitch and Citigroup pointing to strong revenue growth potential in the sector.
WYNN vs. ETF Alternatives
Company Description
Wynn Resorts Ltd Wynn Resorts Ltd is a developer, owner and operator of destination casino resorts. It owns and operates two destination casino resorts namely Wynn Las Vegas and Encore at Wynn Macau.
Sector: Services
Country: United States