Wynn Resorts: With A New CEO In Tow, Watch For A Swerve To Expand Post Pandemic

Summary

  • Maddox led a turbulent post Steve transition sensibly. What lies ahead needs more than numbers crunching.
  • The WynnBet exit from a proposed SPAC presages a realistic vision of the possibilities of digital for the company.
  • Strong US recovery must be joined by Macau post-pandemic gains to make the case for our PT which is above consensus.
  • Looking for a portfolio of ideas like this one? Members of The House Edge get exclusive access to our model portfolio. Learn More »

Steve Wynn Speaks At Global Gaming Expo In Las Vegas

Ethan Miller/Getty Images News

Above: Steve Wynn, master of the game, left a company in turbulence that required good stewards. They have so proven. But what's next?

Matt Maddox was not Steve Wynn.

But the just resigned Wynn Resorts (

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This article was written by

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Howard Jay Klein has 30 years of experience as an executive and consultant in major casino operations. His background includes: Ballys, Trump Taj Mahal, Mohegan Sun, and Caesars Palace in Las Vegas. He is a value investor first, using management quality to inform his investment ideas. Howard is the leader of the investing group The House Edge where he shares actionable research for investing in the casino, online betting and entertainment industries. His intelligence network is extensive throughout the US gambling and entertainment sectors from customer facing employees, to mid-management to csuite senior managers and boards.

His model portfolio is reviewed monthly.

Features of include: actionable analysis on gaming companies, news and interpretation for the latest trends in gaming, a regular newsletter, buy-sell-hold or accumulate recommendations, chat. Learn More.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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