Factors Wynn Resort Investors Might Consider; No Change to $166 FVE or Narrow Moat Rating
We cannot speculate on what will transpire concerning the serious allegations against Steve Wynn, as reported by The Wall Street Journal on Jan. 26, and we thus maintain our $166 fair value estimate, brand intangible narrow moat rating, and Standard stewardship rating. But there are three factors investors might consider regarding the potential impact on Wynn Resort’s share price and moat thesis should its founder step aside: design quality, license sustainability, and brand reputation.We see n...
Wynn Resorts is a holding company. Through its subsidiaries, the company is a designer, developer, and operator of resorts featuring hotel rooms, retail space, an array of dining and entertainment options, meeting and convention facilities, and gaming. Through its subsidiary, Wynn Macau, Limited, the company operates two integrated resorts in the Macau Special Administrative Region of the People's Republic of China, Wynn Palace and Wynn Macau. In Las Vegas, NV, the company also operates and, with the exception of certain retail space, own Wynn Las Vegas and Encore Boston Harbor, an integrated resort in Everett, MA, adjacent to Boston.
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