By Elyse Andrews, Editor of Cabot Wealth Advisory
From Cabot Wealth Advisory 11/6/10 Sign up for free Cabot Wealth Advisory
Wynn Resorts (WYNN), has been doing well lately, boosted largely by the growth in Asia. Here’s what Mike Cintolo had to say about it in a recent issue of Cabot Market Letter:
“While Las Vegas Sands (LVS) is the leader in the gaming group, Wynn Resorts has its own great story, with the Wynn Macau, Wynn Las Vegas and Encore at Wynn Las Vegas pulling in the dough. Wynn booked a whopping 478% increase in earnings in Q2, with a 43% gain in revenues. And with the giant Wynn Macau (nearly 400 game tables, 1,200 
slots and six restaurants) providing access to the increasingly wealthy Chinese population, investors are expecting great results when the company reports Q3 results on November 2. WYNN has lagged LVS for a while, but the stock took a huge leap last week, pushing the stock to new multi-year price and RP highs and showing that there's more than one way to play the Macau connection.”
The company reported Q3 fiscal results on Monday. Wynn saw revenue climb 29% to $1 billion, beating analysts’ expectations of $990.8 million. The company earned 39 cents per share, in line with the average Wall Street prediction. But the real news is that the company’s Macau revenue surged 50%. Like LVS, WYNN has been on a tear and may need some time to rest. But also as with Las Vegas Sands, we still believe in the long-term growth story at work here.
For more on Las Vegas Sands and other leading growth stocks, check out Cabot Market Letter, where you’ll find in-depth fundamental and technical analysis, Buy, Sell and Hold advice, as well as our proprietary market timing indicators.
Elyse Andrews
Editor of
Cabot Wealth Advisory Elyse Andrews edits Cabot Wealth Advisory, a free email newsletter that offers independent, no-nonsense investment advice on how to build long-lasting wealth written by Cabot's analysts and editors. Every Saturday, Elyse writes the Weekend Digest, which includes her column and a summary of Cabot Wealth Advisories that readers may have missed during the week. Elyse is also a regular contributor to The
Iconoclast Investor, a blog for Cabot editors and readers to share their views and interact with each other.