Wynn Resorts Stock News

RAS AL KHAIMAH, United Arab Emirates--(BUSINESS WIRE)--Wynn Resorts, Limited (WYNN) offered an update today on the construction progress of its newest resort, Wynn Al Marjan Island, the first integrated resort in the United Arab Emirates. Wynn Al Marjan Island is located 50 minutes from the Dubai International Airport in the emirate of Ras Al Khaimah. Construction has proceeded as planned with ...

The decline in Wynn shares since "soft" 3Q results opens up an opportunity to buy undervalued assets. The actual numbers cited in 3Q are marginal declines that fit the historic trading pattern of the stock. The key here has always been resiliency  and superior assets.

Billionaire Tilman Fertitta has increased his ownership stake in Wynn Resorts to 9.9%, according to a filing with the Securities and Exchange Commission. The filing indicates a passive position, though multiple people familiar with the matter tell CNBC they suspect Fertitta will be demanding.

I believe Wynn Resorts' recent price drop may present a buying opportunity, despite soft Q3 earnings, as the company remains fundamentally strong. Buying assets cheaply insulates against market volatility; Wynn's shares were inexpensive when I bought, mitigating the impact of recent earnings. The latest financial results are decent in a historical context, but the stock isn't objectively cheap ...

Wynn is losing market share in Macao, the biggest gaming market in the world.

Shares of Wynn Resorts (WYNN) slumped Tuesday after the hotel and casino operator posted third-quarter results that missed analysts' estimates as its Las Vegas operations slowed.

Construction of deluxe resorts is nothing new in the United Arab Emirates. The Middle Eastern country is already home to almost every leading luxury hotel chain with new ones on the way from global giants such as St. Regis and Ritz-Carlton, as well as boutique brands like Nobu, Six Senses and even one themed to crystal manufacturer Baccarat.

Wynn Resorts, Limited (NASDAQ:WYNN ) Q3 2024 Earnings Conference Call November 4, 2024 4:30 PM ET Company Participants Julie Cameron-Doe - CFO Craig Billings - CEO Brian Gullbrants - COO, North America Conference Call Participants Carlo Santarelli - Deutsche Bank Joe Greff - JPMorgan John DeCree - CBRE Robin Farley - UBS Dan Politzer - Wells Fargo Stephen Grambling - Morgan Stanley David Katz -...