Wynn Resorts, Limited (WYNN)

Las Vegas will die a slow death. Every state wants gambling revenue, so will broke Americans drive / fly all the way to Vegas or drive 20 minutes to the Indian or River Boat Casino to lose their money? Would you want to retire in 100+ degree heat? Eventually, water, electric and food will become pricey as oil is not coming down and Las Vegas is in the middle of a NO WHERE DESERT, no water, no food near by and increased transportation costs.
Guess what? P/E at 84? Cash out your chips and get out.

Sheryl Crow was right:
"I'm leaving Las Vegas
And I won't be back
No I won't be back
Not this time"

WYNN is epic fail

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.

WYNN RESORTS IS ENJOYING A ROBUST ROI FROM IT'S MACAU OPERATIONS. WITH THE EXPANSION IN LAS VEGAS WITH ENCORE TOWERS AND SUITES AND THE EXPANSION IN MACAU I THINK WYNN IS POSITIONED TO START THIER CLIMB AGAIN . I THINK WE CAN SEE WYNN APPRECIATE 30%- 50% WITHIN THE NEXT 12 MONTHS.

This stock is going up. Buy in before the earnings call if you can. They are going to experience a big increase in business along with the rest of the gaming industry due to lower oil and more travel. Macau will be good for them as well.

gaming will survive, and this company is better positioned from a balance sheet perspective than most competitors

LVS and WYNN will make tons of loot from their holdings in Macau. Numbers/Luck and Chance are big concepts in China's culture... as China's economy grows Macau will be a major winner.

The Chinese love to gamble... why do you think mahjong is so popular. This is a play on the insatiable Chinese appetite for gambling, besides if you live in Asia it's a great place to go instead of Las Vegas... who need the jet lag.

Gambling will never go out of style. A top contender and may be the better pick over Sands due to possible Chinese goverment enforcing old property tax law on Sands.

Shot their wad. Did not get time to register this at $98.00. Over priced by at least $20.00 a share. Wynn just looking for a takeout offer. Squeezed the shorts and sent the price through the roof. NO amount of asian gaming is going to make enough earnings to support this price.

Obama is killing Casino. No corp can go LV for celebrations.

After the last blowout quarter, growth projections have increased from 35% to 47% per annum over the next five years. The valuation is still fair; this is one to hold over the next five years.

buy

Stock has probably taking all of the "battering" it will take. Once we come out of the recession, look for a surge in stock price once people start flocking to Mr. Wynn's resorts and casinos once again.

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.

call me a consiracy theorist. four days before option expiry, bear stearns analyst comes out with a buy rating, increaseing his target price a measley 5 dollars (from 103 to 108). sounds like bear and their buddies are long 100 calls and are trying to cash in. where are the feds when you need them. but wait. maybe the stock is cheap. no, with an expected p/e of 200+ and a historical p/e of over 1000, can't be that. wait, maybe there is consensus of opinion on future earnings. no, rating range from buy to sell, many within the past month. Hmm. smell like a bit of go old market manipulation. I hope they get their due...

How lucky can someone be on the same stock ?

I don't know...but I sold this stock a few weeks ago on a nice profit and I'm considering getting back to it now that it went down quite a bit.

My initial logic behind the buy was that I saw the insider transactions over here

http://finance.yahoo.com/q/it?s=WYNN

Then I saw that Jack Binion, an Officer and a very knowledgable insider bought and eventually accumulated, ladies and gentleman, 2,469,034 shares!!! Cowbunga! Then I was talking a bit with my little finger to understand the reasons why would Mr. Binion buy so many shares, maybe he was schizophrenic ? or...maybe he knew of something and expected to company to kick some serious a** out there in the casino world. The P/E had also a low future P/E, since by then the P/E was not yet calculated because the company was building Wynn Macau and registing losses.

So...I logged on my stock broker account, gave a buy order, fire and forget...eventually weeks later I was making a 30% profit. A couple of months later I eventually remembered to put it in CAPS and a couple more months later I sold it. Lucky me, and you, and you too, that meanwhile WYNN as gone down and it's becoming sort of cheap again. Consider buying or accumulating some more.

That's all folks.

Beautiful casino with the highest mins I have ever seen. The house always wins so high mins multiply Wynn's take. $400 a night rooms on the weekdays can't hurt profits either. Macau will attract mega whales.