Wynn Resorts faces risks from extensive regulations, pending investigations/litigation, dependence on key personnel, maintaining gaming licenses, geopolitical instability impacting tourism, customer perception, reliance on a few resorts, competition, collecting receivables, construction/regulatory risks, compliance with anti-money laundering laws, environmental liabilities, adverse publicity, changes in gaming laws/taxes, data security risks, intellectual property protection, labor issues, insurance coverage, Macau operations' specific risks, debt levels and servicing obligations, and sensitivity to interest rate fluctuations. Foreign currency fluctuations also pose a risk.
Financial Upside
Wynn Resorts has increased operating revenues in the recent quarter and nine-month periods, primarily from Macau operations. Higher gaming volumes, improved ADR, and REVPAR in Las Vegas and Macau contribute to the upside. The company has also refinanced debt, repurchased shares, and declared dividends. New debt issuance and repurchase of existing debt also represent potential upside.
