Wynn Resorts Ltd. (WYNN)

He added more. Long term for him. He had trimmed this at $136, so he was looking to get back in, but would have been terrified at $100. Bought when it was up +4% today.

There remains strong demand for Las Vegas, and Wynn will open a resort in Dubai in 2027. Lower interest rates will benefit resorts.

Results aren't particularly good, though have gotten better over last 3 years. Only 5.3% ROC. Doesn't love the balance sheet with a 1:1 debt/equity ratio, makes him nervous. Sees 8.7% decline in revenue. A play for the opportunity overseas, and that's too speculative for him.

He's start worried about their presence in China, but has faith in the CEO. Shares remain cheap in terms of PE.

Has fantastic assets, though has seen weakness in Macau but will change if Beijing does Western-style stimulus to the consumer.

Their international expansion makes them a growth stock.

They have a new UAE project. Their last report was shockingly good, with $1.84 billion in revenues in Q4 2024, but shares have pulled back with the market over fears about the consumer.

Vegas tourism is white hot. Revenue per room was up 11% in May YOY, convention attendance up 2%, and visitors up 5%. MGM has over half its business from Vegas. But he doesn't like MGM's regional business and those patrons are struggling from higher inflation and interest rates. He Likes MGM, but prefers Wynne because it has more Vegas exposure. But Vegas' boom isn't pushing up Vegas stocks, which is frustrating. Frankly, the market is getting it wrong. When Wynne reports, their strong Macau business will shine.

May's data is up across the board: revenue per room is up 11% YOY, convention attendance 2%, hotel occupancy 2%, plus Wynn buys back shares. He expects these good numbers to continue. Also, they're investing in Dubai which will eventually increase revenues. Be patient.

Is undervalued and so it Caesars. He's frustrated with this space, because Las Vegas has been going gangbusters where convention attendance is way up over the past year. These stocks haven't gotten credit for their performance.

Down 14% this month, because of concerns over China. Remember, there was very little activity in Macau because of Covid, so things can't get worse than that. Sure, China's general economic weakness could have an effect on Wynn Macau. Numbers show that Macau is bouncing back. WYNN just reported a revenue beat and huge earnings beat.

Took profits, up 60%. Simply profit-taking. The company is doing a great job. Covid in China is worry, so she's being cautious. She may buy this again.

Their quarter 2 weeks ago was unbelievable! And yet, shares went down after that.

Their Macau and Las Vegas operations are killing it.

Wynne enjoys a core group on consumers who will go to their casinos and any spending online in sports betting adds to that.