Latest news with #WYNN
Yahoo
02-06-2025
- Business
- Yahoo
Favorite Casino Stock Traders Should Avoid in June
Wynn Resorts Inc (NASDAQ:WYNN) is trading 1.9% lower at $88.83 at last check, starting off June on a sour note. The shares are eyeing their fourth-straight loss, extending a pullback from their May 15 five-month highs, and testing support at the $90 level today. Plus, if past is precedent, WYNN could be due for even more losses. Schaeffer's Senior Quantitative Analyst Rocky White of the 25 worst S&P 500 Index (SPX) stocks to own in June, going back a decade, and Wynn Resorts stock is in the top 10. WYNN has averaged a loss of 3.3% for the month, finishing lower 70% of the time over the last 10 years. Options traders are leaning bullish, leaving ample room for headwinds, should this upbeat sentiment begin to unwind. WYNN's 50-day call/put volume ratio of 4.18 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 75% of readings from the past year. Options are looking affordable as well, per the stock's Schaeffer's Volatility Index (SVI) of 33%, which ranks in the 11th percentile of its annual range. This means options traders are pricing in low volatility expectations. WYNN has also tended to outperform these expectations, per its of 99 out of 100. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
Wynn Resorts, Limited (WYNN) Drops Bid for New York City Casino License
Wynn Resorts, Limited (NASDAQ:WYNN) has decided to withdraw its bid for a casino license in New York. The company, a publicly traded hospitality and gaming firm based in Paradise, Nevada, announced that the ongoing rezoning process revealed more effective ways to allocate its capital. Wynn Resorts, Limited (NASDAQ:WYNN) had joined forces with Related Companies to propose a luxury casino resort in Manhattan's upscale Hudson Yards, an area already known for its high-end retail and dining. This marks the second major casino operator to abandon efforts to secure a New York gaming license this spring. In April, Las Vegas Sands revealed during its first-quarter earnings call that it would no longer pursue its proposed site at the Nassau Coliseum on Long Island, citing concerns over potential competition if New York were to legalize online casino gaming (iGaming). Behind the scenes, executives from several casino companies have voiced frustration with the licensing process, describing it as politically charged, costly, and subject to repeated delays, with little transparency or focus on the actual strength of the proposals. Wynn Resorts, Limited (NASDAQ:WYNN) stated that it plans to redirect its capital toward stock repurchases and ongoing as well as future development projects. Among these is the construction of the first casino resort in the Middle East, located in the United Arab Emirates. The company stated the following in its statement: "The recent rezoning process has made it clear to us that there are uses for our capital more accretive to our shareholders, such as investment in our existing and upcoming developments and stock buybacks, than investing in an area in which we, or any casino operator, will face years of persistent opposition despite our willingness to employ 5,000 New Yorkers." Wynn Resorts, Limited (NASDAQ:WYNN) has delivered an over 15% return since the start of 2025. While we acknowledge the potential of WYNN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WYNN and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and Disclosure. None.
Yahoo
20-05-2025
- Business
- Yahoo
Wynn Resorts, Limited (WYNN) Drops Bid for New York City Casino License
Wynn Resorts, Limited (NASDAQ:WYNN) has decided to withdraw its bid for a casino license in New York. The company, a publicly traded hospitality and gaming firm based in Paradise, Nevada, announced that the ongoing rezoning process revealed more effective ways to allocate its capital. Wynn Resorts, Limited (NASDAQ:WYNN) had joined forces with Related Companies to propose a luxury casino resort in Manhattan's upscale Hudson Yards, an area already known for its high-end retail and dining. This marks the second major casino operator to abandon efforts to secure a New York gaming license this spring. In April, Las Vegas Sands revealed during its first-quarter earnings call that it would no longer pursue its proposed site at the Nassau Coliseum on Long Island, citing concerns over potential competition if New York were to legalize online casino gaming (iGaming). Behind the scenes, executives from several casino companies have voiced frustration with the licensing process, describing it as politically charged, costly, and subject to repeated delays, with little transparency or focus on the actual strength of the proposals. Wynn Resorts, Limited (NASDAQ:WYNN) stated that it plans to redirect its capital toward stock repurchases and ongoing as well as future development projects. Among these is the construction of the first casino resort in the Middle East, located in the United Arab Emirates. The company stated the following in its statement: "The recent rezoning process has made it clear to us that there are uses for our capital more accretive to our shareholders, such as investment in our existing and upcoming developments and stock buybacks, than investing in an area in which we, or any casino operator, will face years of persistent opposition despite our willingness to employ 5,000 New Yorkers." Wynn Resorts, Limited (NASDAQ:WYNN) has delivered an over 15% return since the start of 2025. While we acknowledge the potential of WYNN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WYNN and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
Yahoo
20-05-2025
- Business
- Yahoo
Wynn Resorts, Limited (WYNN) Drops Bid for New York City Casino License
Wynn Resorts, Limited (NASDAQ:WYNN) has decided to withdraw its bid for a casino license in New York. The company, a publicly traded hospitality and gaming firm based in Paradise, Nevada, announced that the ongoing rezoning process revealed more effective ways to allocate its capital. Wynn Resorts, Limited (NASDAQ:WYNN) had joined forces with Related Companies to propose a luxury casino resort in Manhattan's upscale Hudson Yards, an area already known for its high-end retail and dining. This marks the second major casino operator to abandon efforts to secure a New York gaming license this spring. In April, Las Vegas Sands revealed during its first-quarter earnings call that it would no longer pursue its proposed site at the Nassau Coliseum on Long Island, citing concerns over potential competition if New York were to legalize online casino gaming (iGaming). Behind the scenes, executives from several casino companies have voiced frustration with the licensing process, describing it as politically charged, costly, and subject to repeated delays, with little transparency or focus on the actual strength of the proposals. Wynn Resorts, Limited (NASDAQ:WYNN) stated that it plans to redirect its capital toward stock repurchases and ongoing as well as future development projects. Among these is the construction of the first casino resort in the Middle East, located in the United Arab Emirates. The company stated the following in its statement: "The recent rezoning process has made it clear to us that there are uses for our capital more accretive to our shareholders, such as investment in our existing and upcoming developments and stock buybacks, than investing in an area in which we, or any casino operator, will face years of persistent opposition despite our willingness to employ 5,000 New Yorkers." Wynn Resorts, Limited (NASDAQ:WYNN) has delivered an over 15% return since the start of 2025. While we acknowledge the potential of WYNN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WYNN and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
Wynn Resorts to Post Q1 Earnings: What's in Store for the Stock?
Wynn Resorts, Limited WYNN is scheduled to report first-quarter 2025 results on May 6, after the closing bell. WYNN's earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, and missed on two occasions, the average surprise being 17.4%. (Find the latest earnings estimates and surprises on Zacks Earnings Calendar.) Trend in Estimate Revision of WYNN The Zacks Consensus Estimate for first-quarter earnings per share is pegged at $1.22, indicating a deterioration of 23.3% from $1.59 reported in the year-ago quarter. For revenues, the consensus mark is pegged at nearly $1.73 billion, suggesting a decline of 7.3% from the prior-year quarter's figure. Wynn Resorts, Limited Price and EPS Surprise Wynn Resorts, Limited Price and EPS Surprise Wynn Resorts, Limited price-eps-surprise | Wynn Resorts, Limited Quote Let's look at how things have shaped up in the quarter. Factors Likely to Shape Wynn Resorts' Quarterly Results Wynn Resorts' first-quarter performance is likely to have benefited from strong domestic demand, solid recovery in Macau and disciplined capital spending. Solid Las Vegas operations, a more balanced visitation pattern during the Chinese New Year and strategic development projects in Macau are likely to have supported the company's performance in the to-be-reported quarter. In Las Vegas, Wynn's performance is likely to have gained from a strong slot handle, elevated table drop and high-margin non-gaming revenues such as food and beverage, entertainment and luxury retail. Continued strength in group bookings and high-quality programming likely supported Average Daily Rates and occupancy levels across its resorts. Our model predicts the segment's room revenues to rise 9% year over year to $244.3 million in the to-be-reported quarter. Progress on concession-related capital expenditures, including the development of a new event center, theater and production show at Wynn Palace, is likely to have aided the company's performance in the first quarter. However, macroeconomic headwinds such as inflation and labor cost pressures may have weighed on margins in the quarter. Our model predicts first-quarter total operating expenses to rise 3.6% year over year to $1.55 billion. What Our Model Says About WYNN Stock Our proven model predicts an earnings beat for Wynn Resorts this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here. WYNN's Earnings ESP: Wynn Resorts has an Earnings ESP of +0.15%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. Wynn Resorts' Zacks Rank: The company has a Zacks Rank #3 at present.
