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Company Description

Contact Info

3131 Las Vegas Boulevard South

Las Vegas, NV 89109

United States

Phone: 702-770-7555

Fax:

Wynn Resorts, Limited engages in the development, ownership, and operation of destination casino resorts (integrated resorts) which integrate accommodations and amenities, including fine dining outlets, premium retail offerings, distinctive entertainment theaters and meeting complexes. The company owns 72% of Wynn Macau, Limited, which operates an integrated resort in the Macau Special Administrative Region of the People’s Republic of China (Macau). The company also owns 100% of and operates an integrated resort in Las Vegas, Nevada. Macau Operations The company refers the integrated Wynn Macau and Encore at Wynn Macau resort as Wynn Macau | Encore or as its Macau Operations. The company operates Wynn Macau | Encore under a 20-year casino concession agreement granted by the Macau government in 2002. It leases from the Macau government an approximately 16-acre parcel of land in downtown Macau's inner harbor where Wynn Macau | Encore is located. As of February 12, 2016, Wynn Macau | Encore featured approximately 284,000 square feet of casino space offering 24-hour gaming with 458 table games and 708 slot machines, private gaming salons, sky casinos and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; casual and fine dining in 8 restaurants; approximately 57,000 square feet of brand-name retail shopping, including stores and boutiques by Bvlgari, Cartier, Chanel, Dior, Dunhill, Ermenegildo Zegna, Ferrari, Giorgio Armani, Graff, Gucci, Hermes, Hugo Boss, Jaegar-LeCoultre, Loro Piana, Louis Vuitton, Miu Miu, Piaget, Prada, Richard Mille, Roger Dubuis, Rolex, Tiffany, Vacheron Constantin, Van Cleef & Arpels, Versace, Vertu, and others; approximately 31,000 square feet of space for lounges and meeting facilities; recreation and leisure facilities, including 2 health clubs, spas, a salon and a pool; and a rotunda show featuring a Chinese zodiac-inspired ceiling along with gold prosperity tree and dragon of fortune attractions. In 2015, the company completed the renovation of approximately 27,000 square feet of its casino space at Wynn Macau for new VIP gaming rooms. Las Vegas Operations The company refers to the integrated Wynn Las Vegas and Encore at Wynn Las Vegas resort as Wynn Las Vegas | Encore or as its Las Vegas Operations. Wynn Las Vegas | Encore is located at the intersection of the Las Vegas Strip and Sands Avenue, and occupies approximately 215 acres of land fronting the Las Vegas Strip. In addition, the company owns approximately 18 acres across Sands Avenue, a portion of which is utilized for employee parking and an office building, and approximately 5 acres adjacent to the golf course on which an office building is located. As of February 12, 2016, Wynn Las Vegas | Encore featured approximately 186,000 square feet of casino space, offering 24-hour gaming with 232 table games and 1,866 slot machines, private gaming salons, a sky casino, a poker room, and a race and sports book; 2 luxury hotel towers with a total of 4,748 guest rooms, suites and villas; 34 food and beverage outlets featuring signature chefs; approximately 99,000 square feet of high-end, brand-name retail shopping, including stores and boutiques by Alexander McQueen, Brioni, Cartier, Chanel, Chloe, Chopard, Dior, Givenchy, Graff, Hermes, IWC Schaffhausen, Jaeger-LeCoultre, Loro Piana, Louis Vuitton, Moncler, Nicholas Kirkwood, Piaget, Prada, Rolex, Vertu and others; approximately 290,000 square feet of meeting and convention space; 3 nightclubs and a beach club; a specially designed theater presenting Le Rêve-The Dream, a water-based theatrical production and a theater presenting Steve Wynn's ShowStoppers, a Broadway-style entertainment production; and recreation and leisure facilities, including an 18-hole golf course, swimming pools, private cabanas, 2 full service spas and salons, and a wedding chapel. The company has obtained the relevant approvals to transform the dealership and adjacent space into additional retail space. Intellectual Property Among the company’s most important marks are its trademarks and service marks that use the name ‘WYNN’. The company has registered with the U.S. Patent and Trademark Office (PTO) various WYNN-related trademarks and service marks in connection with various goods and services. The company also has filed applications with various foreign patent and trademark registries, including in Macau, China, Singapore, Hong Kong, Taiwan, Japan, certain European countries and various other jurisdictions throughout the world, to register various WYNN-related trademarks and service marks in connection with various goods and services. The company’s domain registrations extend to various foreign countries, such as ‘.com.cn’ and ‘.com.hk’. Regulations In addition to gaming regulations, the company is subject to extensive local, state, federal and foreign laws and regulations in the jurisdictions in which the company operates. These include laws and regulations relating to alcoholic beverages, environmental matters, employment and immigration, currency and other transactions, taxation, zoning and building codes, marketing and advertising, lending, debt collection, privacy, telemarketing, money laundering, laws and regulations administered by the Office of Foreign Assets Control, and anti-bribery laws, including the Foreign Corrupt Practices Act. Competition The company’s Macau resort complex also faces competition from casinos located in other areas of Asia, such as Resorts World Sentosa and Marina Bay Sands in Singapore and Resorts World Genting, located outside Kuala Lumpur, Malaysia. It also faces competition from casinos in the Philippines, such as Solaire Resort and Casino and City of Dreams Manila. In Las Vegas, the company competes with other Las Vegas Strip hotels. History Wynn Resorts, Limited, a Nevada corporation, was founded in 2002.

 

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Valuation WYNN* Industry Range
Price/Earnings 31.1x
Price/Sales 2.6x
Price/Book NM Not Meaningful
Price/Cash Flow 15.9x
TEV/Sales NM Not Meaningful
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