Wynn Resorts, Limited
- Open
- 94.75
- Day high
- 96.15
- Day low
- 94.72
- Prev close
- 93.61
- Volume
- 1.2M
- Mkt cap
- $9.8B
- P/E (TTM)
- 21.8
- EPS (TTM)
- $4.37
- P/B
- -57.9
- P/S
- 1.3
- Yield
- 0.79%
- Per share
- $0.75
- ▼Insiders net selling -$200.5M over the last 3 months (0 open-market buys, 11 sales)
- 🏛Institutions mixed (13F)
Wynn Resorts, Limited (WYNN) is a Consumer Cyclical company listed on NASDAQ. The stock is down 25% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 11 sales (SEC Form 4). Drillr has 1 published research article covering WYNN.
Wynn Resorts, Limited (WYNN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WYNN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 4, 2026 | $0.99 | $1.24 | +25.0% | $1.9B | +1.3% |
| May 7, 2026 | $1.18 | $1.25 | +5.9% | $1.9B | +1.9% |
| Feb 12, 2026 | $1.33 | $1.17 | -12.0% | $1.9B | +3.6% |
| Nov 6, 2025 | $1.15 | $0.86 | -25.2% | $1.8B | +3.3% |
| Aug 7, 2025 | $1.20 | $1.09 | -9.2% | $1.7B | -0.6% |
| Feb 13, 2025 | $1.27 | $2.42 | +90.6% | $1.8B | +3.9% |
| Feb 7, 2024 | $1.12 | $1.91 | +70.5% | $1.8B | +5.8% |
| Nov 9, 2023 | $0.79 | $0.99 | +25.3% | $1.7B | +5.5% |
| Feb 8, 2023 | $-1.17 | $-1.23 | -5.1% | $1.0B | +5.3% |
| Feb 15, 2022 | $-1.24 | $-1.37 | -10.5% | $1.1B | +5.9% |
| Aug 4, 2021 | $-1.41 | $-1.12 | +20.6% | $990M | +6.2% |
| Feb 4, 2021 | $-2.22 | $-2.45 | -10.4% | $686M | -5.2% |
WYNN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 14, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 100,000 | $118.00 |
| Aug 12, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 30,000 | $115.00 |
| Aug 12, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 157,000 | $120.00 |
| Jul 29, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 100,000 | $115.00 |
| Jul 27, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 300,000 | $114.00 |
| Jul 14, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 100,000 | $116.00 |
| Jun 26, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 100,000 | $126.00 |
| Jun 11, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 300,000 | $122.00 |
| Jun 11, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 125,000 | $118.00 |
| Jun 9, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 125,000 | $119.00 |
| Jun 5, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 250,000 | $121.00 |
| May 29, 2026 | SATRE PHILIP Gdirector | Option | 10,827 | $81.55 |
| May 29, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 161,900 | $120.00 |
| May 29, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 225,000 | $118.00 |
| May 29, 2026 | FERTITTA TILMAN J10 percent owner | Sell | 83,000 | $120.00 |
Source: WYNN SEC Form 4 filings, latest Aug 14, 2026. For informational purposes only — not investment advice.
See the full WYNN insider & 13F page →WYNN research & analysis
Wynn Resorts, Limited company profile
Overview
Wynn Resorts, Limited (NASDAQ:WYNN) is a luxury casino and resort operator founded in 2002 by casino industry veteran Steve Wynn. The company has established itself as a premier operator of high-end integrated resorts, focusing on the luxury segment of the gaming and hospitality market. Wynn operates flagship properties in Las Vegas, Macau, and Boston, and is currently developing a major resort in the United Arab Emirates. The company has built its reputation on delivering exceptional service, luxurious accommodations, and world-class gaming experiences to affluent customers worldwide.
Business
Wynn Resorts operates integrated resorts - comprehensive entertainment destinations that combine casino gaming, luxury hotels, fine dining, retail shopping, entertainment venues, and convention facilities under one roof. An integrated resort is designed to be a complete destination where guests can gamble, stay, dine, shop, and be entertained without leaving the property. This business model maximizes revenue per customer by offering multiple spending opportunities and extending guest stays. The company operates four main business segments: 1. Las Vegas Operations (~37% of revenue): Encompasses both Wynn Las Vegas and Encore Las Vegas, featuring 4,748 luxury guest rooms, 194,000 square feet of casino space with 223 table games and 1,751 slot machines, 32 restaurants and bars, extensive meeting and convention space, retail outlets, theaters, and nightclubs. Las Vegas serves as the company's flagship operation and consistently generates the highest profit margins. 2. Macau Operations (~50% of revenue): Includes Wynn Macau and Wynn Palace properties with a combined 2,716 guest rooms and 676,000 square feet of casino space. Macau is a Special Administrative Region of China and the world's largest gambling market by revenue. The properties cater to both mass market customers and high-limit VIP players, with gaming revenue heavily dependent on Chinese economic conditions and travel policies. 3. Encore Boston Harbor (~12% of revenue): Located in Massachusetts, this property features 671 guest rooms, 211,000 square feet of casino space, and serves the New England market. As the newest property, it represents Wynn's entry into the northeastern United States gaming market. 4. Wynn Al Marjan Island (under development): A $4 billion integrated resort under construction in the United Arab Emirates, expected to open in early 2027. This represents Wynn's expansion into the Middle East market and will be the region's first luxury integrated resort.
Revenue model
Wynn Resorts generates revenue through multiple integrated streams within its resort properties. Casino gaming typically accounts for 60-70% of total revenue, derived from table games (baccarat, blackjack, roulette), slot machines, and private gaming salons. The company earns money from the mathematical advantage built into all casino games, known as the "house edge." Hotel operations contribute 15-20% of revenue through room rates, which Wynn prices at premium levels - often $400-500+ per night in Las Vegas. The company focuses on maintaining high occupancy rates while maximizing average daily rates (ADR) through dynamic pricing strategies. Food and beverage operations generate 10-15% of revenue through restaurants, bars, and in-room dining. Wynn operates multiple high-end restaurants and celebrity chef establishments that command premium pricing. Entertainment, retail, and other services account for the remaining revenue through nightclubs, shows, retail commissions, spa services, and convention space rentals. Several factors significantly impact profitability margins. Positive factors include strong economic conditions in key markets (especially China for Macau operations), favorable currency exchange rates, increased tourism and business travel, and successful marketing to high-value customers. Negative factors include economic downturns, travel restrictions (as seen during COVID-19), increased competition from new casino openings, regulatory changes in gaming markets, and rising labor costs. The business is inherently cyclical and sensitive to discretionary consumer spending, as gambling and luxury travel are among the first expenses consumers cut during economic uncertainty.
Competitive moat
Wynn Resorts possesses a moderate but defensible moat built primarily around its luxury brand positioning, prime real estate locations, and regulatory barriers to entry. The company has cultivated a reputation for exceptional service quality and luxurious amenities that commands premium pricing, creating customer loyalty among high-net-worth individuals who value exclusivity and personalized experiences. Location advantages provide significant competitive protection, particularly the Las Vegas Strip properties which benefit from irreplaceable real estate in the world's premier gaming destination. Similarly, the Macau operations hold valuable gaming concessions in the world's largest gambling market, where new licenses are extremely limited and tightly controlled by the government. Regulatory barriers create meaningful moats, as gaming licenses are restricted and difficult to obtain. New casino development requires substantial regulatory approval processes, limiting the speed at which competitors can enter markets. However, the moat faces several challenges. Competition is intensifying as other luxury operators like MGM, Las Vegas Sands, and newer entrants continue to invest heavily in premium properties and amenities. The gaming industry is also susceptible to technological disruption from online gambling and sports betting, which could reduce demand for physical casino visits. Additionally, economic sensitivity means that during downturns, even wealthy customers may reduce discretionary spending, eroding pricing power. The company's heavy dependence on Chinese customers for its Macau operations creates concentration risk from regulatory changes or economic conditions in China.
Risks & safety
Wynn Resorts presents a moderate margin of safety with strong liquidity but elevated debt levels and cyclical earnings volatility. • Liquidity position: Strong with $2.4 billion in cash and short-term investments plus additional revolver availability, providing substantial financial flexibility • Debt burden: Total liabilities of $13.9 billion against $13.0 billion in assets, creating negative book value and high leverage ratios above 4x net debt/EBITDA • Cash flow: Positive operating cash flow of $1.4 billion annually, but significant capital expenditure requirements for maintenance and development projects • Valuation metrics: Trading at reasonable multiples with P/E around 19x and EV/EBITDA of 10x based on normalized earnings • Cyclical risks: Earnings can swing dramatically based on economic conditions and travel patterns, as demonstrated during COVID-19 pandemic • Development risk: Major capital commitment to UAE project ($800-900 million remaining) creates execution risk and cash flow pressure
Recent development
Over the past few years, Wynn has pursued several strategic initiatives focused on geographic expansion and operational optimization. The most significant development is the Wynn Al Marjan Island project in the UAE, representing a $4 billion investment and the company's entry into the Middle East market. Construction is progressing rapidly with the project expected to open in early 2027, targeting European, Indian, and regional Middle Eastern customers within an 8-hour flight radius. In Macau, the company successfully renewed its gaming concession and has been investing in concession-related capital projects while implementing digital table games and smart analytics to improve customer data and reinvestment decisions. The company opened a new Gourmet Pavilion food hall at Wynn Palace and continues expanding its Chairman's Club loyalty program. Las Vegas operations have seen continued investment in amenities and planned renovations, including an upcoming Encore Tower remodel. The company has maintained strong pricing power and market share while exploring potential expansion opportunities. Wynn has also been actively returning capital to shareholders through an aggressive share repurchase program, buying back over $500 million in stock over the past year, and resuming dividend payments. The company acquired Aspers casino in London to support its UAE market entry and customer database development. Additionally, Wynn continues exploring development opportunities in New York (casino license application) and Thailand, though these remain in early stages.
WYNN company profile · for informational purposes only — not investment advice.
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