Wynn Resorts, Limited (WYNN)

spec bear

I think the Las Vegas/Casino based stocks are some of the best bets. Wynn, MGM, and LVS aren't going anywhere. Considering the DOW is back near 10,000, halfway back to its high, I can only imagine that as the rest of the country slowly recovers, you will see stocks like LVS which was once selling down near $2 a share back to $100+. The desire, want, need to gamble will not go away. The minute spare funds are available, casinos will be back to their prime. Companies like WYNN, MGM, and LVS are highly leveraged in their desire to expand, but will ultimately survive and be stronger for it. The timing of the downturn was bad, but even local to me (Western New York) the casinos here are upset that instead of making $120 million, they only make $102 million. Belive me, they aren't losing money and the only thing that has these larger traded companies in a bind is the poor timing to be highly leveraged. I don't think they are losing any money, they have just lost all ability to find financial flexibility, further leverage themselves, or possibly to maintain any loan covenants that would otherwise be a non-issue. As the economy recovers, their significant investments will pay off, their leverage will increase, they will be back to having financial flexibility, and they will again thrive.

This company is overvalued and bogus.

oversold for now because of bad earnings report

The smell of rotting casinos in the desert may bring in the vultures and speculators willing to gamble on a long shot.
In the long run, these companies are doomed to fail because their customers lost much of their money in 2008 and are still trying to find a job in 2009.

T161

Analyst upgrade today. Successful Macau IPO. Casino stocks are bound to go up as the economy slowly recovers.

THe stock if over valued right now. My estimation is it should be near $30

Great upcoming play on China with opening Macau Casino...

Macou

I've been trading the hell out of LVS, MGM, and some WYNN, enough to take the rest of the year off if i please and then some. But i will say out of those three hot stocks WYNN is the best looking on paper and therefore is the safest for the retail investor.

If you've got the sack watch some LVS and MGM.

I am making this call and pitch somewhat late in the cycle though.

american exporters easy access to market in china run by a very competant co and dynamic wife

Gambling away money is not good in any economic environment.

The are the hottest gaming stock going right now. IPO means cash cash cash!

Overvalued. The hotels are beautiful, but this stock is overvalued.

I don't see gaming (especially destination gaming) returning to pre-recession levels anytime soon and without that it's awfully hard to justify the valuation that's getting attached to this stock.

There are a few things that reduce the conviction of my underperform call relative to some of my others. For one there is the convention business. This is a big driver for this company because of the premium positioning of their flagship properties right next to the convention center. Convention business is down, but with the repayment of TARP a lot of Wall Street guys are going to be yearning to return to Vegas now that Congress isn't going to be all up in their face.

The other thing lessens my conviction on this underperform call is the footprint they have in Macau. That could be a real growth driver.

On balance, I think they are do for a pullback after the recent run so I give this one a medium thumbs down, but I might close it out early if I bag a decent amount of points on it.

The stock is ahead of itself. Looks like it's getting squeezed.

Until the economy rights itself in the USA & Macau ,the 3 digit cost of a share is over despite the magic Wynn name.

Don't be fool by people like cramer, Just look at his track record, cheering the wynn results even with 91% drop in profit, Clearly CNBC and their staff trying to stick this bull market senario to their viewers which i think is as fake as it comes,GS the evil company running the show now after eliminating the competitions with the help of X-GS H. paulson and fed.

beat by 10c today, Encore is up and runnings, 2nd Q in a row that negative variance harmed their table win, going to clean up from the cutbacks at MGM and LVS. Not over-levered.