Sin Stocks That Sizzle: Wynn Resorts (WYNN)
The gaming and resort giant Wynn Resorts (WYNN) upped its market share in the island of Macau to 11% late last year. That helped fuel the already-raging stock to a 108% gain in the past 12 months. Wynn knows Macau is where the growth in gaming is happening.
The Macau gambling authority reported that the island’s gaming revenue rose 19% year-over-year in 2013 to $45.2 billion, about seven times the revenue expected from gambling on the Las Vegas Strip.
Shares of WYNN touched a new 52-week-high on Monday of $247.70. Wynn’s U.S. destination is luxury casino resort Wynn Las Vegas, which has 4,750 hotel rooms.