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Crystal Pavilion is expected to have 1,300 rooms, high-end museums, interactive gardens, glitzy dining options and technology theaters, features aimed at bolstering Wynn’s non-gaming offerings in Macau. The company is estimating a 20 percent return on investment from the project<\/span>.<\/p>\n<\/div>\n“It will include an immersive theatre, partner with world-class art museums, have an Asian gourmet food pavilion and art sculpture gardens, and have a ‘gong spire,’\u201d said Greff. \u201cConstruction is expected to commence in late 2021 and take 36 months to complete, and WYNN expects 7-10 million annual visitors<\/strong>.\u201d<\/p>\nShareholder Rewards<\/h2>\n
At the analyst and investor day, Wynn highlighted the fact that its dividend has doubled in less than two years and that it remains committed to \u201csustainable\u201d payout growth while noting the firm could periodically entertain the idea of special dividends. The company also said it repurchased $157 million of its stock in fourth quarter of 2018.<\/p>\n
J.P. Morgan’s Greff sees Wynn’s more robust cash flow potentially leading to increased shareholder rewards in the future.<\/p>\n
\u201cWe maintain our favorable view on WYNN here, reflecting (1) accelerating EBITDA in 2020 from key growth pillars (Encore Boston Harbor ramp, LV Strip convention space\/golf course, and mass-focused Macau investments),\u201d said the analyst. \u201cAnd (2) a steady path to deleveraging, with 2021E year-end net leverage declining to 2.4x and setting up for capital return along the way (further increasing recurring dividend, buybacks)<\/strong>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"J.P. Morgan gaming and leisure analyst Joseph Greff finds shares of Wynn Resorts, Ltd. (NASDAQ:WYNN) interesting and is enthusiastic about the comments the company made regarding its capital spending plans at its recent analyst and investor day. In a new research note, Greff reiterated an \u201coverweight\u201d rating and $155 price target on shares of the […]<\/p>\n","protected":false},"author":46,"featured_media":109350,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
JPMorgan Analyst is Bullish on Wynn Resorts, Likes Spending Plans<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n