Wynn Makes $4.2 Billion Macau Gamble on His Most Expensive Casino Yet Casino tycoon Steve Wynn is nothing if not a showman. The SW Steakhouse, a signature restaurant at his new 1,700-room, gambling resort in Macau, features a 25-foot video screen. As diners dig into their rib eyes, King Kong peeks from behind a window and a giant gorilla hand reaches out to grab a banana. The Wynn Resorts Ltd. chief executive officer is also a storied risk-taker. His new property, the Wynn Palace, is his most expensive casino yet—a $4.2 billion wager that the former Portuguese enclave will shake off a two-year slump that’s driven down betting revenue by 36 percent and re-emerge as a first-tier vacation spot for gamblers all over Asia. http://finance.yahoo.com/news/wynn-makes-4-2-billion-160004377.html
Steve Wynn is usually right on his calls but Macau not in favor today Wynn Resorts (WYNN) CEO Wynn to CNBC: 'The Stronger Macau is, the Better it is for Everybody' https://www.thestreet.com/story/136...-is-for-everybody.html?puc=yahoo&cm_ven=YAHOO
If it holds $88 - $94 on a re-test, it may be worth adding for the eventual move back up to $125. Other than the authorized $1B share buyback program, there isn't many catalysts that can push the stock higher in the immediate future.
Picked up some JAN 20 $105 calls at $7.37 and sold them at $9.83 on 8/15. Got in at $6.50 for Jan 20 $105 calls this afternoon and hope I can make some profits again.
Short-term bulls are looking for a rally in Wynn Resorts. optionMONSTER's market scanner shows that about 3,100 Weekly 92 calls expiring on Sept. 9 were purchased mostly for $2 to $2.75 today. This is clearly fresh buying, as open interest in the strike was a mere 37 contracts before the session began. http://finance.yahoo.com/news/call-buyers-place-bets-wynn-161951290.html
Wynn Resorts, Limited (NASDAQ:WYNN) has been stuck in a bearish trading range since April 2016. This can clearly be seen on the stock chart below. Being a bearish trading range, it is likely that Wynn Resorts will break lower in the next few weeks. When the stock closes below the lower range trend line, I am looking to buy puts or short the stock. The downside is insane with a potential move to $57.50. Considering the stock is currently trading at $90.72, this gives investors a possible profit of 37%. By Pro-Trader Jenny Rebekka
I think WYNN just found itself a support level. Heads up longs, you got some breathing room this morning!
Just closed my position in WYNN at $107.25 for a >20% gain. I don't think it's done going up, but hard to ignore 20% profits. I'll buy again on the next dip into the low 90's or so if it gets there. That's twice I've made the trade from upper 80's up to >100.
I feel the another reason for the big drop today as all Macau gaming exposure stocks down as well Wynn Resorts Ltd. (WYNN) Given “Hold” Rating at Deutsche Bank AG Deutsche Bank AG reiterated their hold rating on shares of Wynn Resorts Ltd. (NASDAQ:WYNN) in a report issued on Friday morning. A number of other analysts have also commented on WYNN. Vetr lowered Wynn Resorts from a strong-buy rating to a buy rating and set a $109.61 price objective for the company. in a report on Thursday, June 2nd. Morgan Stanley upgraded Wynn Resorts from an underweight rating to an equal weight rating in a research note on Friday, June 3rd. Wells Fargo & Co. restated a hold rating on shares of Wynn Resorts in a research note on Saturday, June 4th. Zacks Investment Research upgraded Wynn Resorts from a hold rating to a buy rating and set a $102.00 target price on the stock in a research note on Thursday, June 30th. Finally, JPMorgan Chase & Co. downgraded Wynn Resorts from an overweight rating to a neutral rating and cut their target price for the stock from $101.00 to $94.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Wynn Resorts currently has a consensus rating of Hold and a consensus target price of $99.91. http://www.thecerbatgem.com/2016/09...nn-given-hold-rating-at-deutsche-bank-ag.html
Here is the real reason WYNN, LVS, MGM and MPEL fell today. As I have said on a number of threads it should be illegal not to make this news available during the market hours. Wynn falls on report of softness at newest Macau property http://www.cnbc.com/2016/09/19/wynn...adline|headline|story&par=yahoo&doc=103951417
WYNN down -3% Nomura analyst Harry Curtis weighed in on Wynn Resorts Ltd (NASDAQ: WYNN) amid news Gamal Aziz has resigned from his positions as President and Executive Director of Wynn Macau. Curtis notes Mr. Aziz led the development and opening of WYNN Palace and said his departure "should be an indication that the post-opening ramp of the Palace has been disappointing."Nomura analyst Harry Curtis weighed in on Wynn Resorts Ltd (NASDAQ: WYNN) amid news Gamal Aziz has resigned from his positions as President and Executive Director of Wynn Macau. Curtis notes Mr. Aziz led the development and opening of WYNN Palace and said his departure "should be an indication that the post-opening ramp of the Palace has been disappointing."
WYNN has not been in favor of late but Steve Wynn is a winner he will get past the bumps in the road. I met Aziz years back when his forte was restaurants. He really moved up in the world
