Wynn Resorts (WYNN) AI Stock Analysis

• Market Cap: $11.53B
• Dividend Yield: 0.87%
• Average Volume (3M): 1.82M
• Price to Earnings (P/E): 32.7
• Beta (1Y): 0.92
• Revenue Growth: -1.94%
• EPS Growth: -53.90%
• Country: US
• Employees: 28,000
• Sector: Consumer Cyclical
• Sector Strength: 80
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): 1.09
• Shares Outstanding: 103,976,530
• 10 Day Avg. Volume: 2,108,527
• 30 Day Avg. Volume: 1,822,700
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.66
• Enterprise Value/Revenue: 2.75
• Enterprise Value/Gross Profit: 6.46
• Enterprise Value/Ebitda: 11.05
• 1Y Price Target: $120.82
• Price Target Upside: 5.70% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12

• Rating: 60 Neutral
• Price Target: $114.00 ▼(-0.27% Downside)

Wynn Resorts' overall stock score is driven by strong technical indicators and positive earnings call sentiment. However, financial performance is hindered by high leverage and negative equity, and valuation metrics suggest potential overvaluation. Recent corporate events provide some financial flexibility, but the company must address financial risks to improve its overall standing.

Positive Factors

Capital Allocation

The company bought back ~$200mn in stock during the quarter, indicating strong capital allocation.

Financial Performance

Vegas EBITDAR came in at $235m above expectations largely on better opex control and stronger table/slot revenues.

Growth Prospects

The opening of Wynn Al Marjan Island is expected to be a key catalyst for Wynn Resorts, as it will be the first major integrated casino resort in the Middle East.

Negative Factors

Earnings

WYNN reported headline 2Q results below expectations driven largely by hold headwinds in both Macau and Vegas.

Economic Risks

Key concerns for the business include recession risks in Las Vegas and macro and geopolitical risks for Macau.

Operational Challenges

Macau EBITDAR was a miss largely attributable to higher opex and some VIP luck headwinds.

Wynn Resorts Business Overview & Revenue Model

Company Description

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays. Its Wynn Macau segment operates 252,000 square feet of casino space with 331 table games, 818 slot machines, private gaming salons, sky casinos, and a poker room; two luxury hotel towers with 1,010 guest rooms and suites that include two health clubs, two spas, a salon, and a pool; 14 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; and Chinese zodiac-inspired ceiling attractions. Its Las Vegas Operations segment operates 194,000 square feet of casino space with 223 table games, 1,751 slot machines, private gaming salons, a sky casino, a poker room, and a race and sports book; two luxury hotel towers with 4,748 guest rooms, suites, and villas, including swimming pools, private cabanas, two full service spas and salons, and a wedding chapel; 32 food and beverage outlets; 513,000 square feet of meeting and convention space; 155,000 square feet of retail space; and two theaters, three nightclubs and a beach club. Its Encore Boston Harbor segment operates 211,000 square feet of casino space with 184 table games, 2,766 slot machines, gaming areas, and a poker room; a luxury hotel tower with 671 guest rooms and suites, including a spa and salon; 15 food and beverage outlets and a nightclub; 10,000 square feet of retail space; 71,000 square feet of meeting and convention space; and a waterfront park, floral displays, and water shuttle service. The company was founded in 2002 and is based in Las Vegas, Nevada.

How the Company Makes Money

Wynn Resorts generates revenue primarily through its casino operations, hotel accommodations, and various entertainment and dining offerings. The company's gaming revenue comes from slot machines, table games, and poker, which attract a high volume of both casual and high-stakes players. Additionally, Wynn generates significant revenue from its hotel segment, where room bookings, resort fees, and additional guest services contribute to earnings. The company's diverse range of restaurants and bars, along with retail shops, provide supplementary income. Wynn Resorts also benefits from partnerships with various entertainment providers, enhancing its offerings and attracting visitors. Seasonality and tourism trends can significantly impact earnings, with peak seasons corresponding to major events and holidays contributing to higher occupancy rates and gaming revenues.

Wynn Resorts Financial Statement Overview

Summary

Wynn Resorts shows strong revenue growth and gross profit margins, but faces challenges in profitability and financial stability due to high leverage and negative equity. Cash flow generation is moderate, with some strengths in converting income to cash. Overall, the company shows potential for growth but must address financial risks and improve profitability.

Income Statement

Wynn Resorts has shown a positive revenue growth trend with a 7% increase in TTM, following a 9.1% growth in the previous year. The gross profit margin remains strong at 42.5% TTM, indicating efficient cost management. However, the net profit margin has decreased to 5.5% TTM from 7% in the previous year, suggesting pressure on profitability. The EBIT and EBITDA margins have also slightly declined, reflecting potential operational challenges.

Balance Sheet

The balance sheet reveals significant leverage with a negative stockholders' equity, resulting in a high debt-to-equity ratio of -27.56 TTM. This indicates financial instability and potential risk. The return on equity is negative, reflecting losses and inefficiencies in generating returns for shareholders. The equity ratio is also negative, highlighting a reliance on debt financing.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth by 1.6% TTM, indicating challenges in generating cash. However, the operating cash flow to net income ratio is 0.54, suggesting some ability to convert income into cash. The free cash flow to net income ratio is relatively strong at 0.80, showing decent cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.97B	7.13B	6.53B	3.76B	3.76B	2.10B
Gross Profit	2.96B	3.10B	2.82B	1.25B	1.21B	352.64M
EBITDA	1.73B	1.99B	1.72B	643.17M	310.01M	-480.30M
Net Income	383.88M	501.08M	729.99M	-423.86M	-755.79M	-2.07B
Balance Sheet
Total Assets	12.69B	12.98B	14.00B	13.42B	12.53B	13.87B
Cash, Cash Equivalents and Short-Term Investments	1.98B	2.43B	3.72B	3.65B	2.52B	3.48B
Total Debt	12.17B	12.17B	13.37B	13.73B	12.05B	13.19B
Total Liabilities	13.90B	13.95B	15.10B	15.06B	13.37B	14.61B
Stockholders Equity	-441.54M	-224.16M	-251.38M	-750.84M	-214.42M	-352.00M
Cash Flow
Free Cash Flow	1.04B	1.00B	740.70M	-423.78M	-569.28M	-1.36B
Operating Cash Flow	1.30B	1.43B	1.25B	-71.27M	-222.59M	-1.07B
Investing Cash Flow	-267.97M	-83.56M	-1.34B	1.35B	-342.42M	-265.76M
Financing Cash Flow	-1.41B	-1.79B	-719.21M	-23.68M	-388.00M	2.46B

Wynn Resorts Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 114.31
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WYNN, the sentiment is Positive. The current price of 114.31 is above the 20-day moving average (MA) of 109.52, above the 50-day MA of 104.24, and above the 200-day MA of 90.33, indicating a bullish trend. The MACD of 2.00 indicates Negative momentum. The RSI at 64.35 is Neutral, neither overbought nor oversold. The STOCH value of 82.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WYNN.

Wynn Resorts Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BYD	80 Outperform	$6.87B	13.20	36.36%	0.82%	6.40%	26.09%
CHDN	80 Outperform	$7.18B	17.61	41.20%	0.39%	8.20%	7.02%
MGM	65 Neutral	$9.86B	20.97	17.34%	―	0.89%	-31.56%
Sector *	61 Neutral	$17.70B	12.60	-5.32%	3.04%	1.52%	-15.30%
WYNN	60 Neutral	$11.53B	32.71	-51.73%	0.87%	-1.94%	-53.90%
LVS	59 Neutral	$37.79B	27.80	49.16%	1.73%	1.62%	-7.14%
CZR	52 Neutral	$5.56B	―	-4.76%	―	-0.15%	28.05%

Wynn Resorts Corporate Events

Wynn Resorts Announces Redemption of Senior Notes

On August 21, 2025, Wynn Macau, Limited announced its decision to redeem all outstanding $1 billion of 5.50% Senior Notes due 2026. This redemption, scheduled for September 2, 2025, will be executed at a price equal to 100% of the principal amount, using the company’s internal resources. The redemption will lead to the cancellation of the notes and their delisting from the stock exchange, reflecting a strategic financial move by the company.

Wynn Resorts’ Subsidiary Completes $1 Billion Note Offering

On August 18, 2025, Wynn Macau, Limited, a subsidiary of Wynn Resorts, completed a $1 billion offering of 6.750% senior notes due 2034. The proceeds, approximately $989 million after expenses, are intended for general corporate purposes, including debt repayment. The issuance is part of WML’s strategic financial management, potentially impacting its market positioning by enhancing liquidity and flexibility. The notes are listed on the Hong Kong Stock Exchange, with specific terms allowing for redemption under certain conditions, reflecting WML’s proactive approach to managing its financial obligations and market risks.

Wynn Resorts Announces $1 Billion Senior Notes Issuance

On August 12, 2025, Wynn Macau, a subsidiary of Wynn Resorts, announced a purchase agreement for the issuance of $1 billion in senior notes due in 2034, with an interest rate of 6.750%. The proceeds are intended for general corporate purposes, including debt repayment. The issuance is expected to enhance the company’s financial flexibility, although it carries risks such as potential change of control provisions that could require repurchase of the notes.

Wynn Resorts Announces Senior Notes Offering

On August 11, 2025, Wynn Macau, Limited announced a proposed private offering of senior notes, subject to market conditions and investor interest. The proceeds from this offering are intended for general corporate purposes, including debt repayment, which could extend the maturity profile of the company’s indebtedness, potentially benefiting its financial stability.

Wynn Resorts Reports Q2 2025 Financial Results

Wynn Resorts reported its financial results for the second quarter of 2025, showing operating revenues of $1.74 billion, a slight increase from the previous year. However, net income decreased to $66.2 million from $111.9 million in the same quarter of 2024. The company highlighted strong performance in Las Vegas, despite challenges in Macau due to lower VIP hold. Wynn Resorts is progressing with its Wynn Al Marjan Island project in the UAE and continues to return capital to shareholders through dividends and stock repurchases.

Wynn Resorts Expands Loan Facility by $1 Billion

On July 31, 2025, Wynn Macau, Limited announced an increase in its revolving unsecured loan facility commitments by US$1.0 billion, bringing the total to US$2.5 billion. This expansion under the Facility Agreement, involving WM Cayman Holdings Limited II and Bank of China Limited, aims to enhance the company’s financial flexibility and market positioning.

Wynn Resorts Amends Credit Agreement for Liquidity Boost

On June 12, 2025, Wynn Resorts announced an amendment to its credit agreement through its subsidiary Wynn Resorts Finance, LLC. This amendment extends the maturity dates of certain loans and revolving commitments to June 12, 2030, and secures an additional $500 million in extended revolving commitments. This strategic financial move aims to enhance the company’s liquidity and operational flexibility, potentially strengthening its market position and providing stability for stakeholders.

Wynn Resorts Adjusts Convertible Bonds Conversion Price

On June 2, 2025, Wynn Macau, Limited announced an adjustment to the conversion price of its 4.50% convertible bonds due 2029, following the payment of a final dividend of HK$0.185 per share. Effective June 3, 2025, the conversion price was adjusted from HK$10.01212 to HK$9.66905, impacting the convertible bonds’ conversion into approximately 487 million shares, which represents about 9.3% of the company’s total issued share capital.