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

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Wynn Resorts reported its third-quarter 2025 financial results, showcasing mixed performance across its various geographic markets.</li><li>In Las Vegas, the company reported EBITDA growth adjusted for hold of 3% to $211 million, despite encountering a difficult comparable quarter.</li><li>Gaming market share increased, driven by strong casino revenues which surged by 10%, while hotel revenue remained stagnant at $187 million.</li></ul>

Wynn Resorts reported its third-quarter 2025 financial results, showcasing mixed performance across its various geographic markets.In Las Vegas, the company reported EBITDA growth adjusted for hold of 3% to $211 million, despite encountering a difficult comparable quarter.Gaming market share increased, driven by strong casino revenues which surged by 10%, while hotel revenue remained stagnant at $187 million.

Wynn Resorts Is Expanding Aggressively — But What Will Its UAE Monopoly Look Like?

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

<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!

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Wynn Resorts (WYNN US)

Wynn Resorts Is Expanding Aggressively — But What Will Its UAE Monopoly Look Like?

Wynn Resorts reported its third-quarter 2025 financial results, showcasing mixed performance across its various geographic markets. In Las Vegas,...

Baptista Research

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)