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NEWS 30 June 2017

Wynn Resorts stock is a cut above the rest

By Caroline Watson
This year has proven to be a particularly good one for gaming stock, with every major gaming company climbing into double digits according to the latest figures.

Boyd Gaming, MGM Resorts and Las Vegas all showed positive increases, however, Melco Resorts, Penn National, and Wynn Resorts really stole the show.

Wynn Resorts leads the pack all thanks to the $4.4bn Wynn Palace Resort. Based on Macau’s Cotai region, the high roller market has played a pivotal role in the company’s growth and success. And with just 302 table games and 91 games in their VIP area, the casino didn't have a lot of room for error when it comes to gambling volume.

Wynn Palace Resort generated a whopping $119m in the first quarter of 2017, however this is just the beginning for the resort.

Currently there are a number of developments surrounding the resort making it rather difficult for potential punters to enter the resort. MGM Cotai’s construction is only going on across the street, in addition to the light-rail construction that surrounds the resort.
However, Wynn Palace will get to enjoy a number of long-term benefits from the short-term pitfall as it is the first stop on the light rail from the airport and ferry terminal.

Moreover, the company has Wynn Boston Harbour and the Paradise Park development on the Wynn Las Vegas golf course to look forward to in the not-so-distant future.

If new construction can generate a solid return on investment and Macau continues to grow, Wynn Resorts' stock may have a great deal more room to up its game despite being the best gaming stock so far in 2017.
RELATED TAGS: Financial
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