{"id":169681,"date":"2021-04-06T07:43:22","date_gmt":"2021-04-06T14:43:22","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=169681"},"modified":"2021-04-06T10:44:07","modified_gmt":"2021-04-06T17:44:07","slug":"wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/","title":{"rendered":"Wynn Resorts Stock Catches Upgrade as Research Firm Sees Casino Recovery Taking Hold"},"content":{"rendered":"

Wynn Resorts (NASDAQ:WYNN) stock is primed to benefit as domestic travel rebounds and visitation trends in Macau perk up, according to Argus Research.<\/p>\n

\"Wynn
Wynn and Encore Las Vegas. Argus Research is bullish on Wynn stock. (Image: Las Vegas Review-Journal<\/em>)<\/figcaption><\/figure>\n

In a note to clients today, analyst John Staszak lifts the Encore operator to \u201cbuy\u201d from \u201chold,\u201d while placing a price target of $160 on the shares. That implies upside of 22.1 percent from the April 5 close.<\/p>\n

Our upgrade assumes a recovery in the Las Vegas business and growth in Boston, driven by the rollout of coronavirus vaccines and increased leisure travel,<\/strong>\u201d said the analyst.<\/p><\/blockquote>\n

On Wall Street, enthusiasm for casino operators with Las Vegas Strip exposure is growing. That’s amid an improving economic backdrop and rising vaccination levels. On Monday, Morgan Stanley upgraded Caesars Entertainment (NASDAQ:CZR) and MGM Resorts International (NYSE:MGM), while boosting 2021 earnings before interest, taxes, depreciation and amortization (EBITDA) estimates on Boyd Gaming (NYSE:BYD)<\/a>, Caesars, and Wynn. The impetus for those calls was mounting evidence that the largest domestic casino is healing from the effects<\/a> of the pandemic.<\/p>\n

Macau Still Vital to Wynn Stock Thesis<\/h2>\n

While there’s budding energy for a return to normalcy on the Strip, Macau remains a vital driver of the Wynn investment thesis.<\/p>\n

In a traditional operating environment, Wynn Macau and Wynn Palace combine for roughly two-thirds of the operator’s revenue and EBITDA on a quarterly basis. That makes the Chinese special administrative region by far the most vital market for the company.<\/p>\n

\u201cIn addition, we expect Wynn to benefit from a recovery in Macau, helped by its focus on the premium mass and luxury markets,\u201d <\/strong>said Staszak.<\/p>\n

Macau is on a two-month winning streak in revenue terms, and many analysts are comfortable modeling a second-half recovery<\/a> in the world’s richest casino market. That outlook is largely rooted in expectations that pandemic-related travel restrictions will soon loosen — a theory that could be tested as soon as early May with the arrival of Golden Week festivities.<\/p>\n

For Investors, More to Like with Wynn<\/h2>\n

Wynn stock is primarily viewed through the lens of brick-and-mortar integrated resort operations. But the company is growing its iGaming<\/a> and sports wagering footprints.<\/p>\n

\u201cThe company has also launched its iGaming\/sports betting platform in 10 states,\u201d notes Staszak.<\/p>\n

This will be the first year online sports wagering and internet casinos will have opportunities to materially impact Wynn’s financial results.<\/p>\n

On that note, Argus lowered its 2021 loss estimate on Wynn to $2.70 a share from $2.80. The research firm raised its 2022 earnings per share estimate to $2.00 from $1.85. Shares of the Encore Boston Harbor operator are up 16.17 percent year-to-date and 6.70 percent below the 52-week high.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Wynn Resorts (NASDAQ:WYNN) stock is primed to benefit as domestic travel rebounds and visitation trends in Macau perk up, according to Argus Research. In a note to clients today, analyst John Staszak lifts the Encore operator to \u201cbuy\u201d from \u201chold,\u201d while placing a price target of $160 on the shares. That implies upside of 22.1 […]<\/p>\n","protected":false},"author":46,"featured_media":169682,"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 Offers Upside as Las Vegas, Macau Rebound, Says Argus<\/title>\n<meta name=\"description\" content=\"Wynn stock has big upside potential as Las Vegas and Macau recover and as company pushes into sports betting.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wynn Stock Offers Upside as Las Vegas, Macau Rebound, Says Argus\" \/>\n<meta property=\"og:description\" content=\"Wynn stock has big upside potential as Las Vegas and Macau recover and as company pushes into sports betting.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/\" \/>\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=\"2021-04-06T14:43:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-06T17:44:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/wynn2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\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=\"2 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-offers-upside-as-las-vegas-macau-rebound-says-argus\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/\",\"name\":\"Wynn Stock Offers Upside as Las Vegas, Macau Rebound, Says Argus\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/wynn2.jpg\",\"datePublished\":\"2021-04-06T14:43:22+00:00\",\"dateModified\":\"2021-04-06T17:44:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Wynn stock has big upside potential as Las Vegas and Macau recover and as company pushes into sports betting.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-stock-offers-upside-as-las-vegas-macau-rebound-says-argus\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/wynn2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/wynn2.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Wynn and Encore Las Vegas. 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