Wynn Resorts (WYNN)
Wynn Resorts (WYNN) has two casinos in Las Vegas and has two locations in Macau — the hottest gaming market in the world today. The company is showing extraordinary growth this year, with earnings up 48% so far. The latest quarter was up 98% year-over-year so the pace is accelerating as results from the Macau locations have been exceptionally strong.
There have been fears about Chinese economic weakness spilling over into the casino business but Wynn has a huge market-share advantage with the high-rolling VIP gamblers who are less likely to feel the sting of slower growth.
Portfolio Grader has been tracking the strong performance of company and upgraded it to a buy in December and a strong buy in January. WYNN remains a “strong buy” and I would look to buy on any pullbacks in the market.