Momentum Stocks to Buy: Wynn Resorts (WYNN)
Wynn Resorts, Limited (NASDAQ:WYNN) was the disruptor-in-chief when founder Steve Wynn built his signature Wynn Las Vegas in 2005.
While other casinos in Vegas were still catering to conventions and U.S.-based customers, Wynn saw opportunity in catering to high net worth Asian customers. While most casinos were loud and proud, Wynn’s projects tended to be low-key, with more tables than slots, and high-end restaurants and entertainment.
They were more subdued and less stereotypical Vegas establishments. It worked so well, most casinos that have been built since then (and those that have remodeled) have used Wynn as their touchstone. WYNN also got in early in the Chinese gaming Mecca of Macau. He bought property and built three casino resorts there.
Wynn Resorts is about style over volume and it has paid off. WYNN stock is up 51% this year and Macau is the new Vegas, with gaming revenue growing there by double-digits for the past 11 months.