Wynn Resorts Ltd. (WYNN) Stock Surges on Earnings
Shares of Wynn Resorts Ltd. jumped to an all-time high Tuesday, a day after the casino operator blew past Wall Street's second-quarter estimates on strong results at its Macau and Las Vegas casinos.
The company also announced that it will open an extra 20,000 square feet of casino space in Macau as well as increase the number table games and slot machines.
J.P. Morgan Securities analyst Harry Curtis said in a client note that the company's Macau expansion planned for the first quarter shows confidence in both its product's strength and the market outlook overall despite the Venetian opening and concerns over excess supply and visa restrictions in the Chinese region.
The company also announced that it will open an extra 20,000 square feet of casino space in Macau as well as increase the number table games and slot machines.
J.P. Morgan Securities analyst Harry Curtis said in a client note that the company's Macau expansion planned for the first quarter shows confidence in both its product's strength and the market outlook overall despite the Venetian opening and concerns over excess supply and visa restrictions in the Chinese region.
Labels: WYNN, Wynn Resorts Ltd.
posted by Stock Administrator @ 1:24 PM
1 Comments:
At 9:19 PM ,
jim hall said...
Careful, the 'theStreet's' report on this stock notes that they have been 'less than careful' with balance sheets!
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