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Morningstar•May 10, 2023
Morningstar•May 10, 2023Wynn Resorts, Limited: Wynn Earnings: Demand and Profit Improvement in Vegas and Macao Led to a Reinstated Dividend
Summary
Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, and Encore Boston Harbor in Massachusetts opened June 2019. We expect the company to begin construction on a new building next to its existing Wynn Palace resort in 2024, which we forecast to open around 2027. The company also operates
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Analyst Profile
Dan Wasiolek
Senior Equity AnalystDan Wasiolek is a senior equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers gaming, lodging, and online travel.Before joining Morningstar in 2014, Wasiolek spent 16 years as an analyst and portfolio manager covering U.S. mid- and large-cap strategies for Driehaus Capital Management.Wasiolek holds a bachelor’s degree in business administration from Illinois Wesleyan University and a master’s degree in business administration, with a concentration in finance, from the DePaul University Kellstadt School of Business.