Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I see <strong><a href="https://www.smartkarma.com/entities/wynn-resorts-ltd" target="_blank" data-smartkarma-citation="entities:606:1" rel="noopener">Wynn Resorts (WYNN US)</a></strong> trading around all-time highs - both the implied stub (net of <strong><a href="https://www.smartkarma.com/entities/wynn-macau-ltd" target="_blank" data-smartkarma-citation="entities:473:1" rel="noopener">Wynn Macau Ltd (1128 HK)</a></strong>) and on a simple ratio (WYNN/1280). </li>
<li>Preceding my comments on Wynn are the current setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>


I see Wynn Resorts (WYNN US) trading around all-time highs - both the implied stub (net of Wynn Macau Ltd (1128 HK)) and on a simple ratio (WYNN/1280). 
Preceding my comments on Wynn are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: Wynn Resorts (WYNN US) Ekes Out New Highs

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

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Equity Bottom-Up

<ul><li>Wynn Resorts recently announced its financial results for the second quarter of 2025, highlighting both positive developments and challenges faced across its key markets.</li><li>In Las Vegas, Wynn Resorts reported record EBITDAR for the second quarter, reaching $235 million, a 2% yearover-year increase.</li><li>This growth reflects strong demand, with total casino revenues up by 14.5%.</li></ul>

Wynn Resorts recently announced its financial results for the second quarter of 2025, highlighting both positive developments and challenges faced across its key markets.In Las Vegas, Wynn Resorts reported record EBITDAR for the second quarter, reaching $235 million, a 2% yearover-year increase.This growth reflects strong demand, with total casino revenues up by 14.5%.

Wynn Resorts Pushes Ahead in the UAE—Could Al Marjan Island Be Its $5 Billion Game-Changer?

<ul><li>Wynn Resorts recently conducted its Q1 2025 earnings review, which showcased both strengths and challenges within its operations.</li><li>This assessment provides a comprehensive analysis of the company's recent performance and strategic positioning.</li><li>In Las Vegas, Wynn Resorts acknowledged the significant impact of tariffs on its operations, with a pronounced effect on capital expenditures (CapEx) rather than operating expenditures (OpEx).</li></ul>

Wynn Resorts recently conducted its Q1 2025 earnings review, which showcased both strengths and challenges within its operations.This assessment provides a comprehensive analysis of the company's recent performance and strategic positioning.In Las Vegas, Wynn Resorts acknowledged the significant impact of tariffs on its operations, with a pronounced effect on capital expenditures (CapEx) rather than operating expenditures (OpEx).

Wynn Resorts: Will Its Global Expansion Efforts & High-Stakes Bet on the UAE Yield Results?

<ul><li>Wynn Resorts recently reported its financial performance for the fourth quarter of 2024, revealing a complex mix of developments in its various global markets.</li><li>The company continues to demonstrate strong operational capabilities, which is reflected in its financial outcomes, yet faces certain challenges and opportunities for strategic growth.</li><li>In Las Vegas, Wynn Resorts achieved another record year of adjusted property EBITDAR, indicating robust operational health and demand.</li></ul>

Wynn Resorts recently reported its financial performance for the fourth quarter of 2024, revealing a complex mix of developments in its various global markets.The company continues to demonstrate strong operational capabilities, which is reflected in its financial outcomes, yet faces certain challenges and opportunities for strategic growth.In Las Vegas, Wynn Resorts achieved another record year of adjusted property EBITDAR, indicating robust operational health and demand.

Wynn Resorts: The Tale Of The Macau Comeback & The UAE Expansion!

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

Thematic (Sector/Industry)

<ul>
<li>The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.</li>
<li>But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.</li>
<li>It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.</li>
</ul>


The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.
But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.
It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.


A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

United States

Wynn Resorts, Limited owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada, Macau, and China. The Company offers amenities such as guest rooms and suites, restaurants, golf course, and an on-site luxury automotive dealership.

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Wynn Resorts (WYNN US)

StubWorld: Wynn Resorts (WYNN US) Ekes Out New Highs

Consensus indicate higher forward EBITDA growth for Wynn Resorts' stub ops vs. Wynn Macau. Wynn Macau's growth is below Macau peers. Stay in "set...

David Blennerhassett

Wynn Resorts Pushes Ahead in the UAE—Could Al Marjan Island Be Its $5 Billion Game-Changer?

Wynn Resorts recently announced its financial results for the second quarter of 2025, highlighting both positive developments and challenges faced...

Baptista Research

Wynn Resorts: Will Its Global Expansion Efforts & High-Stakes Bet on the UAE Yield Results?

Wynn Resorts recently conducted its Q1 2025 earnings review, which showcased both strengths and challenges within its operations. This assessment...

Baptista Research

Wynn Resorts: The Tale Of The Macau Comeback & The UAE Expansion!

Wynn Resorts recently reported its financial performance for the fourth quarter of 2024, revealing a complex mix of developments in its various...

Baptista Research

A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

The top 10% account for around 50% of consumer spending in the US. This insight looks at the sectors and companies that could win and lose from the...

Finimize Research

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