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Opinions Jim Lebenthal
Wynne Resorts Ltd.WYNNBUYOct 11, 2021
Jim LebenthalOwned
N/A
Stock price when the opinion was issued
$105.53
As of Jun 18, 2026. Market Open.
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BUY ON WEAKNESS
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.
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STRONG BUY
Their quarter 2 weeks ago was unbelievable! And yet, shares went down after that.
Jim LebenthalOwned
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RISKY
Allan Tong’s Discover Picks Consider Wynn Resorts. Year-to-date, WYNN stock has outpaced competitors with its shares breaking even in 2022 through early December while MGM stock has sunk 15% and Caesars 46%. Pretty good, right? However, in early November WYNN stock reported a Q3 revenue loss of $1.20 which was much higher than the street’s $1.03 prediction. Why? That Q3 included a two-week closure of their Macau casinos because of an increase in Covid cases. The company’s Las Vegas and Boston operations helped cushion the turbulence, but the coming winter (a period when Covid cases typically rise) looks uncertain. Read Between Safety and Risk: 3 Safe and Gambling Stocks for our full analysis.
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BUY
Look at the recovery in Las Vegas. Okay, maybe a recession is coming, but the Wynn CEO is ready for one (though doesn't see one on the horizon). Last month, a big private investor took a big stake in Wynn (a good sign). Macro tailwinds: China will reopen.
Jim LebenthalOwned
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BUY
He's still holding this at a loss. In terms of problem, it's been one thing or another, like Macau or recession talk (in the future). The canary in the coal mine are casino stocks. He believes inflation has peaked, though, so casinos could rip. He's bullish Wynn and casinos.
Jim LebenthalOwned
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DON'T BUY
BUY
It will be choppy trading for another month for sure as we digest inflation, including services inflation--inflation is broadening out into other categories. Not enough attention is being paid to retail sales--which are up--and homes sales are also up nicely. We have to wait--nobody knows where inflation is going. She's a long-term investor. Companies that performed best during earnings season are the ones she likes: Expedia, Wynn, Hilton. Would consider AmEx, Coke, McDonald's--if you get them on sale, you can leg into them and see how it goes.
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COMMENT
Among the biggest losers on the S&P in 2021 #8, down 25%. Like Las Vegas Sands. He's been wrong owning this. The Chinese government has made life difficult for Wynne. Its asset value is well above its stock price. This could be stuck in a rut--but worth the wait after Covid. Maybe.
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BUY ON WEAKNESS
A hated stock. Shares have been cut almost in half and will likely go lower. But it's oversold. Also, he thinks this will be acquired by an MGM or Las Vegas Sands. Hammered this week by the Omicron scare, but it's time to nibble. Buy on the way down, not up, and we buy long term. Don't chase, but invest. And expect this stock to fall a little more before it rises--you gotta start somewhere.
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He added to this on the way down over a month ago, around $80. He has enough now. This is such a cheap call option on China, about 10% of their enterprise value. Rather, the value is in the U.S. operations which is doing gangbusters. Las Vegas room rates are 65% higher than in 2019. Shares are popping 5% today on news that Jim Cramer has bought shares.