The market’s perception of Wynn Resorts as a sunny island of calm amid stormy conditions may be changing.
A Citigroup analyst recently initiated a sell rating on its stock, mainly on the back of issues related to its Las Vegas operation.
The note said the opening of the USD2.3 billion Encore resort in Las Vegas, on 22nd December, could hurt Wynn if the property’s performance is slow to ramp up.
It also cites concerns that Encore could cannibalise business from Wynn Las Vegas.
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Driven by the summer holiday travel peak season, Macau’s total visitor arrivals in July increased by 14.5% year-on-year and 19.6% month-on-month, reaching 3,458,366 and recovering to 97.9% of the level achieved in July 2019. Visitors from mainland China remained the...
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Wynn Macau Ltd confirmed Friday that it will redeem in full senior notes due 2026 and valued at US$1 billion on 2 September 2025. The redemption includes the company’s US$750 million 5.500% senior notes due 2026 issued in June 2020...
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