At the conference, Doe told J.P. Morgan analyst Joseph Greff that Wynn is well-positioned to continue benefiting from the Macau resurgence, because Wynn Palace — one of the operator\u2019s two properties there — is one of the newest venues in the special administrative region (SAR). Greff noted Wynn Macau\u2019s decision to not lay off workers during coronavirus lethargy was a smart move, because the operator isn\u2019t vulnerable to labor squeezes.<\/p>\n
As such, while there will be some ramp in [operating expenses] to correspond with higher demand,\u201d<\/strong> observed the analyst. \u201cWYNN should see a more meaningful EBITDA inflection as revenues step up.\u201d<\/strong><\/p><\/blockquote>\nStill, the advancement of the UAE project is vital for Wynn\u2019s long-term trajectory, because as its portfolio currently stands, it runs two Macau venues and three in the US, with the Macau duo doing much of the heavy lifting.<\/p>\n
Wynn’s US Outlook<\/h2>\n
At the J.P. Morgan conference, Doe sounded a bullish tone on Wynn\u2019s US operations, including on the Las Vegas Strip and at Encore Boston Harbor.<\/p>\n
Greff noted that elevated midweek occupancy can help Wynn boost margins, while marquee 2023 events, such as the November F1 race in Las Vegas, give the operator leeway to increase room prices.<\/strong><\/p>\nAt Encore Boston Harbor, which is already one of the highest-grossing domestic casino hotels outside of Las Vegas, Doe said additional parking, expansion<\/a> of the property, and the recent launch of sports wagering in Massachusetts are potential catalysts for adding share in that market.<\/p>\n","protected":false},"excerpt":{"rendered":"Wynn Resorts (NASDAQ: WYNN) expects that construction on its casino resort on Al-Marjan Island in the United Arab Emirates (UAE) will commence in a matter of weeks, forecasting a 2027 debut. Wynn CFO Julie Cameron Doe made related remarks at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, which was held this […]<\/p>\n","protected":false},"author":46,"featured_media":250969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62,81883],"tags":[81913,81897,82205],"acf":[],"yoast_head":"\n
Wynn CFO Bullish on Macau, Sees UAE Build Starting Soon<\/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