Why Would Anyone Want to Buy Wynn Resorts Stock?

Rich Duprey, The Motley Fool
·5 min read
Why Would Anyone Want to Buy Wynn Resorts Stock?

Shares of Wynn Resorts (NASDAQ: WYNN) are up 40% over the past month and have nearly tripled from the lows hit during the broad market sell-off in March. Investors are betting the casino industry will be soon bouncing back, and because Wynn's operations are heavily weighted toward Macao -- the only place in China where it is legal to bet -- it could see a recovery sooner rather than later as the tiny peninsula saw a promising recovery in gaming revenue in October. Las Vegas Sands is reportedly considering selling its Las Vegas properties to go all in on Asia, primarily Macao, but for the time being, Wynn Resorts has more exposure to the market as it derives about three quarters of its adjusted earnings before interest, taxation, depreciation, and amortization (EBITDA) from the city.

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