{"id":135100,"date":"2020-05-07T09:26:35","date_gmt":"2020-05-07T16:26:35","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=135100"},"modified":"2020-05-07T10:15:01","modified_gmt":"2020-05-07T17:15:01","slug":"wynn-stock-could-be-a-winner-with-help-from-macau","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/","title":{"rendered":"Wynn Stock Could Be a Winner as Macau VIPs Return, Las Vegas Bounces Back"},"content":{"rendered":"

Shares of Wynn Resorts (NASDAQ:WYNN) are trading slightly lower Thursday, a day after the company reported a wider-than-expected first-quarter loss. But citing the possibilities of a near-term rebound in Macau, analysts remain enthusiastic on the name.<\/p>\n

\"Wynn
With Macau likely to lead a gaming rebound, Wynn is poised to benefit, says an analyst. (Image: South China Morning Post)<\/figcaption><\/figure>\n

In the first three months of 2020, Wynn Macau and Wynn Palace \u2013 the operator’s two properties in the world’s largest gaming center \u2013 combined for $489 million of the operator’s $953.7 million in total revenue. Like the other concessionaires there, Wynn is still dealing with the effects of a 15-day closure in February forced by the coronavirus outbreak and lingering travel controls<\/a> that are preventing many Chinese gamblers from visiting the peninsula.<\/p>\n

Throughout this earnings season, gaming companies with Macau exposure are talking about pent-up demand among Asian gamblers, something Wynn executives did on their Wednesday conference call. It prompted discussion that the region will lead a global gaming rebound.<\/p>\n

We continue to forecast overall premium mass and VIP play to lead the recovery,\u201d said Roth Capital analyst David Bain in a note provided to <\/span><\/span>Casino.org.<\/i><\/span><\/span> \u201cFurther, after discussions with industry sources, we believe VIP and premium will have an easier time with player spacing rather than an influx of mass on the main floors.\u201d<\/span><\/span><\/p><\/blockquote>\n

Wynn Macau, the company’s China unit, is heavily dependent on high-end players, a group affected by the freeze on the individual visit scheme (IVS). Bain doesn’t expect China \u201cto push a button\u201d on mass IVS relaxation. B<\/strong>ut even a measured loosening by Beijing could benefit Wynn’s VIP-heavy Macau business.<\/span><\/span><\/p>\n

Relief Is on the Way<\/span><\/span><\/h2>\n

Integrated resorts in Macau have been open since late February, but visits remain low due to travel bans. Bain says that situation could ease as soon as later this month, but positive year-over-year visitation numbers probably won’t be seen until early next year.<\/span><\/span><\/p>\n

\n

\u201cVisitation should begin to see some relief in second-half of May as Mainland provinces likely begin to open up \/ visa programs loosen,\u201d said the analyst. \u201cVisitation inflection will be particularly pronounced when Guangdong, Macau\u2019s largest feeder, relaxes. However, we do not expect sustained positive YoY visitation until February 2021.\u201d<\/span><\/span><\/p>\n<\/div>\n

Integral to the Macau rebound thesis is Guangdong province \u2013 the mainland region closest to the gaming center \u2013 relaxing a 14-day quarantine policy<\/a> aimed at stemming the spread of COVID-19. Until that happens, gross gaming revenue (GGR) figures are likely to remain bleak. Bain forecasts May and June GGR declines of 70 percent and 53 percent, respectively, and a third-quarter slide of 32 percent<\/strong>.<\/span><\/span><\/p>\n

Vegas Recovery<\/span><\/span><\/h2>\n

Las Vegas is inching toward reopening<\/a>, and Wynn CEO Matt Maddox reiterated on the conference call that he expects some casinos there will be operational late this month, though he’s not sure if just one or both of the operator’s Strip properties will be open.<\/span><\/span><\/p>\n

\u201cWe believe WYNN\u2019s low convention weighting and customer quality versus mass quantity should benefit an early recovery in Las Vegas, in our view,\u201d said Roth Capital’s Bain.<\/span><\/span><\/p>\n

The analyst has a \u201cbuy\u201d rating on Wynn stock and a $99 price target, implying upside of 26.1 percent from where it currently trades<\/strong>.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Wynn Resorts (NASDAQ:WYNN) are trading slightly lower Thursday, a day after the company reported a wider-than-expected first-quarter loss. But citing the possibilities of a near-term rebound in Macau, analysts remain enthusiastic on the name. In the first three months of 2020, Wynn Macau and Wynn Palace \u2013 the operator’s two properties in the […]<\/p>\n","protected":false},"author":46,"featured_media":135102,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nWynn Stock Could Be a Winner With Help From Macau<\/title>\n<meta name=\"description\" content=\"Macau revenue and visitation trends will take some time to bounce back, but when that happens, Wynn Resorts could be a winner.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wynn Stock Could Be a Winner With Help From Macau\" \/>\n<meta property=\"og:description\" content=\"Macau revenue and visitation trends will take some time to bounce back, but when that happens, Wynn Resorts could be a winner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-07T16:26:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-07T17:15:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/\",\"name\":\"Wynn Stock Could Be a Winner With Help From Macau\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn3.jpg\",\"datePublished\":\"2020-05-07T16:26:35+00:00\",\"dateModified\":\"2020-05-07T17:15:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Macau revenue and visitation trends will take some time to bounce back, but when that happens, Wynn Resorts could be a winner.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-could-be-a-winner-with-help-from-macau\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn3.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn3.jpg\",\"width\":1920,\"height\":1200,\"caption\":\"With Macau likely to lead a gaming rebound, Wynn is poised to benefit, says an analyst. 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