Wynn Resorts (WYNN)

• Market cap: $10.2B
• 1 day: 0.72%
• 5 days: 14.90%
• 1 month: 32.57%
• 3 months: 9.76%
• 6 months: 4.58%
• Year to date: 16.34%
• 1 year: -0.56%
• 5 years: 24.51%
• 10 years: -10.39%
• Sector: Consumer Discretionary
• Industry: Resorts & Casinos

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. In 2024, both the US and Macao were each 50% of total EBITDA.

Employees: 28,000

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

51% more call options, than puts

Call options by funds: $1.51B | Put options by funds: $998M

30% more funds holding in top 10

Funds holding in top 10: 10 [Q3] → 13 (+3) [Q4]

29% more first-time investments, than exits

New positions opened: 110 | Existing positions closed: 85

3% more funds holding

Funds holding: 549 [Q3] → 564 (+15) [Q4]

0.92% less ownership

Funds ownership: 64.85% [Q3] → 63.93% (-0.92%) [Q4]

10% less repeat investments, than reductions

Existing positions increased: 181 | Existing positions reduced: 201

13% less capital invested

Capital invested by funds: $6.97B [Q3] → $6.05B (-$922M) [Q4]

Research analyst outlook

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

• Low target: $99 2% upside
• Avg. target: $111 13% upside
• High target: $122 25% upside

4 analyst ratings

• positive: 4 100%
• neutral: 0 0%
• negative: 0 0%

Mizuho Ben Chaiken 47% 1-year accuracy 27 / 57 met price target	25% upside $122	Outperform Maintained	8 May 2025
Barclays Brandt Montour 56% 1-year accuracy 49 / 87 met price target	2% upside $99	Overweight Maintained	22 Apr 2025
Morgan Stanley Stephen Grambling 61% 1-year accuracy 20 / 33 met price target	6% upside $103	Overweight Maintained	24 Feb 2025
Jefferies David Katz 52% 1-year accuracy 15 / 29 met price target	21% upside $118	Buy Upgraded	18 Feb 2025