Latest news with #WynnResorts
Yahoo
22-07-2025
- Business
- Yahoo
Seaport downgrades MGM, lifts Macau casino forecasts as Las Vegas outlook weakens
-- Seaport Research downgraded MGM Resorts (NYSE:MGM) and MGM China (OTC:MCHVY) to Neutral given a slowdown in Las Vegas and limited upside after a strong run in Macau stocks, even as it raised its Macau gaming forecasts and estimates for several companies. Macau's casino industry has shown stronger-than-expected momentum in the second quarter, with Seaport now expecting gross gaming revenue (GGR) to grow 7% for the full year and over 9% in the second half. The firm said sentiment toward China has improved despite lingering macro concerns, helped by stimulus and recent gains in tourism. While Macau-focused stocks remain below pre-pandemic valuation levels, Seaport noted that investor attention will shift to the sustainability of recent growth. It raised price targets across most of its coverage, except for MGM, which it sees under pressure from slower U.S. demand and rising capital spending tied to projects in New York and Japan. In the U.S., the firm flagged softness in Las Vegas as a near-term concern, though it expects no major downturn in the broader casino market. Top picks include Melco Resorts, Las Vegas Sands (NYSE:LVS), Sands China (OTC:SCHYY) and Wynn Macau (OTC:WYNMF). Seaport remains positive on Wynn Resorts (NASDAQ:WYNN) long-term, pointing to the potential of its UAE expansion. Related articles Seaport downgrades MGM, lifts Macau casino forecasts as Las Vegas outlook weakens After soaring 149%, this stock is back in our AI's favor - & already +25% in July If Powell goes, does Fed trust go with him? 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
17-07-2025
- Business
- Yahoo
Wynn Resorts' Quarterly Earnings Preview: What You Need to Know
Las Vegas, Nevada-based Wynn Resorts, Limited (WYNN) designs, develops, and operates integrated resorts. With a market cap of $11.6 billion, the company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The resort titan is expected to announce its second-quarter earnings for 2025 after the market closes on Thursday, August 7. Ahead of the event, analysts expect WYNN to report a profit of $1.22 per share on a diluted basis, up 8.9% from $1.12 per share in the year-ago quarter. The company beat the consensus estimates in one of the last four quarters while missing the forecast on three other occasions. More News from Barchart Dear Google Stock Fans, Mark Your Calendars for July 23 Dear UnitedHealth Stock Fans, Mark Your Calendars for July 29 Peter Thiel Is Betting Big on This Ethereum Treasury Stock. Should You Buy Shares Now? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For the current year, analysts expect WYNN to report EPS of $4.75, down 21.1% from $6.02 in fiscal 2024. However, its EPS is expected to rise 5.5% year over year to $5.01 in fiscal 2026. Over the past year, WYNN shares have surged 27.8%, outperforming the S&P 500's ($SPX) 10.5% gains and the Consumer Discretionary Select Sector SPDR Fund's (XLY) 12.7% gains over the same time frame. WYNN stock grew marginally following the release of its Q1 results on May 6. The company's revenues decreased 8.7% year-over-year to $1.7 billion, missing the Street's expectations, primarily due to a decline in revenue contributions across segments and properties in Macau, Las Vegas, and Boston. Moreover, its adjusted EPS of $1.07 missed the consensus estimates by 12.3%. Analysts' consensus opinion on WYNN stock is highly upbeat, with a 'Strong Buy' rating overall. Out of 15 analysts covering the stock, 11 advise a 'Strong Buy' rating, one suggests 'Moderate Buy,' and three suggest a 'Hold.' WYNN's average analyst price target is $111.75, indicating a 1.7% potential upside from the current levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
08-07-2025
- Business
- Yahoo
How to play casino stocks in a 'choppy' gaming environment
Casino stocks are in focus after Goldman Sachs (GS) analysts initiated coverage of Caesar's (CZR), Wynn Resorts (WYNN), Las Vegas Sands (LVS), and MGM Resorts (MGM). Goldman Sachs global investment research vice president, Lizzie Dove, dives deeper into the gaming sector, taking a closer look at the impact of macroeconomic conditions on casinos. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. 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
Travel Weekly
08-07-2025
- Entertainment
- Travel Weekly
Revelry, the Wynn Las Vegas culinary fest, is back for a second helping
Revelry, a culinary festival that debuted as a four-day event last year, is returning to Wynn Las Vegas with an expanded menu Sept. 19 to 27. Renowned chefs from throughout the world and culinary teams from Wynn Las Vegas, Wynn Macau and Wynn Palace will collaborate on curated tastings, dinners and other experiences. The main events The Feast ($395 plus tax and fees), scheduled for 7:30 p.m. on Sept. 20 at Wynn's Event Pavilion and Lawn, is the festival's main event. The walk-around tasting experience features barbecue specialties and prime cuts of the Four Sixes Ranch Cookout, a tribute to the 6666 Ranch in Texas; a culinary tour of Mexico with Tijuana-style tacos and dishes inspired by the Yucatan Peninsula, prepared by James Beard Award nominee Sarah Thompson of Wynn Las Vegas' own Casa Playa; Postcards from the Mediterranean, an homage to the coastal towns of Italy and Greece; and Passage Through Asia, with sushi, sashimi and dim sum. The All-Star Chefs Dinner ($795), at 7 p.m. on Sept. 26 at Delila, will feature the work of chefs Christopher Lee (Wynn Las Vegas), Angie Mar (Le B., New York), Gavin Kaysen (Spoon and Stable, Minneapolis), Fariyal Abdullahi (Hav & Mar, New York) and JJ Johnson (Fieldtrip, New York). "Revelry has received tremendous reception since its debut, and we are thrilled to bring back the festival for another memorable year," said Brian Gullbrants, COO of Wynn Resorts North America. Other collaborative dinners; tastings that emphasize pairings; and culinary and mixology classes are scheduled throughout the week.
Yahoo
04-07-2025
- Business
- Yahoo
MGM Resorts (MGM) Soars 7.27% as Macau Gaming Revenues Surge
MGM Resorts International (NYSE:MGM) is one of . MGM Resorts extended its winning streak to a third straight day on Tuesday, adding 7.27 percent to close at $36.89 apiece as investors cheered higher-than-expected gaming revenues in Macau. According to data released by Macau's Gaming Inspection and Coordination Bureau, gross gaming revenues (GGR) increased by 19 percent in June to 21.06 billion patacas ($2.6 billion), or a $417-million difference from the same period last year. Part of the surge was attributed to the series of concerts by Cantopop icon Jacky Cheung, which began in mid-June and will continue until early July. According to Macao Daily, GGR from June 15 to 22 alone reached an average of 685 million patacas per day. Aerial shot of an entertainment resort, its buildings and gaming amenities sprawling along the seafront. Following the news, shares of casino operators such as MGM Resorts International (NYSE:MGM), Las Vegas Sands (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) all surged. While we acknowledge the potential of MGM as an investment, 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 extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
