| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 88.00 | -3 |
| Intrinsic value (DCF) | 75.41 | -17 |
| Graham-Dodd Method | 1.30 | -99 |
| Graham Formula | 66.90 | -26 |
Wynn Resorts, Limited (WYR.DE) is a premier global developer and operator of luxury destination casino resorts, headquartered in Las Vegas, Nevada. The company operates high-end integrated resorts in key gaming markets, including Macau (Wynn Macau and Wynn Palace) and Las Vegas (Wynn Las Vegas and Encore). Wynn Resorts is renowned for its ultra-luxury offerings, world-class entertainment, and fine dining, catering to affluent customers. The company is expanding its footprint with Wynn Boston Harbor in Massachusetts, reinforcing its position in the U.S. gaming market. Operating in the highly competitive Gambling, Resorts & Casinos sector, Wynn Resorts differentiates itself through superior service, brand prestige, and strategic locations. With a market capitalization of over €8 billion, Wynn Resorts remains a significant player in the global gaming industry, leveraging its strong brand equity and operational excellence.
Wynn Resorts presents a compelling investment case due to its strong brand positioning in luxury gaming and hospitality, particularly in Macau and Las Vegas. The company's diversified revenue streams from gaming, entertainment, and dining provide stability. However, high leverage (total debt of ~€12.2 billion) and exposure to cyclical consumer spending pose risks. The resumption of travel post-pandemic and Macau's recovery are tailwinds, but regulatory risks in China and competition remain concerns. The stock's beta of 1.32 indicates higher volatility compared to the market. Investors may find value in Wynn's premium offerings and expansion projects, but should weigh these against macroeconomic and sector-specific risks.
Wynn Resorts competes in the luxury segment of the global casino and resort industry, distinguishing itself through high-end amenities, superior customer service, and prime locations. Its Macau operations benefit from exclusivity in one of the world's largest gaming markets, though regulatory scrutiny in China remains a challenge. In Las Vegas, Wynn competes with other high-profile resorts but maintains an edge with its upscale clientele and premium experiences. The company's competitive advantages include brand prestige, operational efficiency, and a loyal customer base. However, its heavy reliance on Macau (~60% of revenue) exposes it to geopolitical and regulatory risks. Competitors like Las Vegas Sands and MGM Resorts offer similar luxury experiences but with more diversified portfolios. Wynn's ongoing expansion into new markets (e.g., Boston Harbor) could mitigate concentration risks. Capital allocation and debt management will be critical in maintaining its competitive position.