{"id":295117,"date":"2023-10-23T16:06:17","date_gmt":"2023-10-23T21:06:17","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=295117"},"modified":"2023-10-23T22:01:22","modified_gmt":"2023-10-24T03:01:22","slug":"mgm-wynn-tipped-as-travel-and-leisure-equity-winners","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/","title":{"rendered":"MGM, Wynn Highlighted as Travel, Leisure Stock Winners"},"content":{"rendered":"

On a day of broad-based strength for gaming equities, MGM Resorts International (NYSE: MGM) and Wynn Resorts (NASDAQ: WYNN) were two of the standouts after a sell-side analyst waxed bullish on travel and leisure stocks.<\/p>\n

\"Wynn
Wynn and Encore on the Las Vegas Strip. An analyst is bullish on shares of Wynn and rival MGM Resorts. (Image: Luxury Lifestyle Magazine<\/em>)<\/figcaption><\/figure>\n

In a note to clients on Monday, HSBC analyst Meredith Jansen initiated coverage of nine travel and leisure equities with \u201cbuy\u201d ratings. MGM and Wynn were among that group. \u00a0The analyst favors names \u201cthat leverage scale and a differentiated brand to drive sustainable cash generation.\u201d<\/p>\n

We are bullish on new demand categories and the innovative technologies that can further enhance travel and leisure,\u201d<\/strong>\u00a0Jansen wrote.<\/p><\/blockquote>\n

She applied a price target of $111 to Wynn, which implies upside of about 23.3% from Monday\u2019s close. HSBC tagged shares of MGM Resorts<\/a> with a price forecast of $49. That implies upside of 34.4% from Monday\u2019s closing print of $36.64.<\/p>\n

Asset-Light Model Stands Out<\/h2>\n

Jansen highlighted the importance of the asset-light business model, which has become commonplace in the travel and leisure industry, noting it \u201cseparates the real estate \u2018bricks\u2019 from the operators\u2019 brawn and the brands\u2019 brains.\u201d<\/p>\n

\n

That\u2019s a methodology MGM has mastered with aplomb. Aside from a stake in the property assets of the Cosmopolitan on the Las Vegas Strip and a modest stake in gaming real estate investment trust (REIT) VICI Properties (NYSE: VICI), MGM\u2019s real estate exposure is low<\/a> as it pertains to its Strip and regional casino hotels. Over the past several years, a series of property sales freed up cash for the Bellagio operator to reduce debt, pursue acquisitions, and repurchase its shares.<\/p>\n<\/div>\n

Wynn took a page from that playbook, announcing in February 2022<\/a> that it sold the real estate assets of Encore Boston Harbor to Realty Income (NYSE:O) for $1.7 billion.<\/p>\n

That operator owns the property of its namesake venue and Encore and unused land on the Strip, all of which would likely fetch attractive price tags in a sale, but Wynn hasn\u2019t signaled it\u2019s looking to offload its Las Vegas real estate.<\/p>\n

Expect Travel and Leisure \u2018Convergence\u2019<\/h2>\n

HSBC\u2019s Jansen added that \u201cthe lines between hotels, lodging real estate investment trusts, casinos, cruise lines, and online travel agencies will continue to converge\u201d as more companies in the travel and leisure arena embrace a new ecosystem that demands more efficient growth.<\/p>\n

In this new ecosystem, three differentiators stand out,\u201d she observed. \u201cThe first focuses on experience and digital transformation. The second is about the business model strategy — what we call asset-light 2.0. And third is the growing importance of loyalty and rewards programs.\u201d<\/p><\/blockquote>\n

The point about loyalty programs is relevant to any casino operator, but it\u2019s particularly noteworthy regarding MGM. In July, the casino giant partnered with Marriott International<\/a> to launch the MGM Collection with Marriott Bonvoy. That long-term strategic licensing agreement covers MGM\u2019s 17 domestic properties and goes into effect this month.<\/p>\n","protected":false},"excerpt":{"rendered":"

On a day of broad-based strength for gaming equities, MGM Resorts International (NYSE: MGM) and Wynn Resorts (NASDAQ: WYNN) were two of the standouts after a sell-side analyst waxed bullish on travel and leisure stocks. In a note to clients on Monday, HSBC analyst Meredith Jansen initiated coverage of nine travel and leisure equities with […]<\/p>\n","protected":false},"author":46,"featured_media":259477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,81886],"tags":[81897,81903,23],"acf":[],"yoast_head":"\nMGM, Wynn Tipped As Travel and Leisure Equity Winners<\/title>\n<meta name=\"description\" content=\"MGM, Wynn among potential travel and leisure stock winners, says HSBC analyst.\" \/>\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\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM, Wynn Tipped As Travel and Leisure Equity Winners\" \/>\n<meta property=\"og:description\" content=\"MGM, Wynn among potential travel and leisure stock winners, says HSBC analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/\" \/>\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=\"2023-10-23T21:06:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-24T03:01:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/wynn-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1368\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\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\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/\",\"name\":\"MGM, Wynn Tipped As Travel and Leisure Equity Winners\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/wynn-1.jpg\",\"datePublished\":\"2023-10-23T21:06:17+00:00\",\"dateModified\":\"2023-10-24T03:01:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"MGM, Wynn among potential travel and leisure stock winners, says HSBC analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-wynn-tipped-as-travel-and-leisure-equity-winners\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/wynn-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/wynn-1.jpg\",\"width\":1368,\"height\":628,\"caption\":\"Wynn and Encore on the Las Vegas Strip. 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