Wynn Resorts, Limited (WYNN)

spec bear

Real unemployment is about 17%. Selling at 30 PE for 2010 at best case earnings. Look at the potential downside. I'm getting my short stick out. At some point the "market" will see the light. Mr. Wynn bailed at 56.00 I know it was north of 70.00 I am trying to wait but my short stick is itching and twitching.

spec bear

This company is overvalued and bogus.

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

Gambling away money is not good in any economic environment.

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.

Casino companies a no no right now

Vegas is about the party and throwing your excess money around. Until employment numbers pick up and housing rebounds Vegas is a no go.

Long-term earnings growth is expected to be significantly negative. The continuing recession makes short-term prospects no better.

just a feeling

going down simply because MLG was thinking about it shorting it at an even lower price. I'll play this on CAPs

Followinfg SpecBear.

Lots of debt to restructure. Will they be able to do so in this credit environment? I doubt it.

More like an ENCORE of too much debt.

WYNN is epic fail