Wynn Macau’s FVE of HKD 14 Per Share Maintained; Wynn Palace Will Ramp Up Faster After Third Quarter
After our recent trip to Macau, we have increased confident that Wynn Palace is putting more effort into speeding up ramp-up, but full ramp-up will take longer than we expected. Narrow-moat Wynn Macau is fairly valued at our fair value estimate of HKD 14.00 per share. Now that Ian Coughlan oversees both Wynn Macau and Wynn Palace, we expect to see better resources allocation and coordination between the two properties to help maximize the group’s overall profit. We think Wynn Palace’s ramp-up wi...Wynn Macau is a holding company. Co. is a developer, owner and operator of destination casino gaming and entertainment resort facilities in Macau. Through its subsidiary, Wynn Resorts (Macau) S.A., Co. owns and operates the destination hotel and casino resort Wynn Macau in Macau. In addition, Co. is engaged in the development, design and preconstruction activities.
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