Wynn Resorts (WYNN)

• Market cap: $9.3B
• 1 day: 2.63%
• 5 days: 4.82%
• 1 month: -7.93%
• 3 months: -13.59%
• 6 months: -0.29%
• Year to date: 1.04%
• 1 year: -7.12%
• 5 years: -44.16%
• 10 years: -40.39%
• Sector: Consumer Discretionary
• Industry: Hotels & Motels

About: Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, and Encore Boston Harbor in Massachusetts opened June 2019. We expect the company to continue to build nongaming attractions in Macao over the next few years. We model Wynn's managed integrated resort in the United Arab Emirates to open in 2027. The company also operates Wynn Interactive, a digital sports betting and iGaming platform. The company received 76% and 24% of its 2019 prepandemic EBITDA from Macao and the US, respectively.

Employees: 27,800

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

400% more funds holding in top 10

Funds holding in top 10: 2 [Q2] → 10 (+8) [Q3]

16% more call options, than puts

Call options by funds: $2.02B | Put options by funds: $1.73B

12% more capital invested

Capital invested by funds: $6.24B [Q2] → $7.01B (+$774M) [Q3]

3.07% more ownership

Funds ownership: 62.21% [Q2] → 65.28% (+3.07%) [Q3]

3% more first-time investments, than exits

New positions opened: 93 | Existing positions closed: 90

1% less funds holding

Funds holding: 549 [Q2] → 546 (-3) [Q3]

11% less repeat investments, than reductions

Existing positions increased: 184 | Existing positions reduced: 207

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $105 24% upside
• Avg. target: $116 37% upside
• High target: $122 44% upside

7 analyst ratings

• positive: 6 86%
• neutral: 1 14%
• negative: 0 0%

Jefferies David Katz 50% 1-year accuracy 11 / 22 met price target	24% upside $105	Hold Maintained	3 Jan 2025
Macquarie Chad Beynon 56% 1-year accuracy 22 / 39 met price target	42% upside $120	Outperform Maintained	5 Nov 2024
JP Morgan Joseph Greff 28% 1-year accuracy 8 / 29 met price target	33% upside $113	Overweight Maintained	5 Nov 2024
Wells Fargo Daniel Politzer 53% 1-year accuracy 28 / 53 met price target	44% upside $122	Overweight Maintained	5 Nov 2024
Barclays Brandt Montour 45% 1-year accuracy 37 / 83 met price target	41% upside $119	Overweight Maintained	5 Nov 2024