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Wynn Resort - Company Analysis

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Wynn Resort - Company Analysis
EXECUTIVE SUMMARY Wynn Resorts Limited is a publicly traded corporation based in Paradise, Nevada that is a developer and operator of high end hotels and casinos. It was formed on October 25, 2002 by former Mirage Resorts Chairmen and CEO Stephen A. Wynn. The target client base for Wynn Resorts are affluent individuals who seek the highest quality—Wynn and its sister property Encore hold more Forbes Five Star awards than any other casino resort in the world. Recently, Steve Wynn has taken his brand global by building in Macau, China. With the opening of the Wynn and Encore Towers, Steve Wynn has proven that upscale gambling can be accomplished outside of Las Vegas. Steve Wynn’s marketing strategy is to emphasize the quality of service provided in the most luxurious accommodations imaginable. Everything from golf to shopping to wedding ceremonies, and gambling of course, is available at Wynn Resorts. The management of Wynn Resorts Limited is lead by Chairman and CEO Stephen A. Wynn, Vice Chairman of the Board Kazuo Okada, and nine directors. The COO is Marc D. Schorr and the CFO is Matt Maddox. Although Wynn Resorts were not immune from the recession, they were able to generate solid revenue and maintain high occupancy ratings. Stephen Wynn and Wynn Resorts continue to be an aggressive force in the hotel and casino market, especially with their recent expansion into Macau, China.
INTRO
Wynn Resorts is engaged in the design, development, financing, construction, and operation of hotel and casino resorts. The Company owns and operates two destination resorts: Wynn Las Vegas, on the Strip in Las Vegas, Nevada, and Wynn Macau, located in the Macau Special Administrative Region of the People’s Republic of China (Macau). Wynn Las Vegas is located on the north-east corner of the intersection of Las Vegas Boulevard (the strip) and Sands Avenue. It offers a nightclub, an ultra-lounge, a spa and salon, a Ferrari and Maserati automobile dealership, wedding chapels, an


References: 1. Central Intelligence Agency, “The World Factbook: Indonesia,” Online, https://www.cia.gov/library/publications/the-world-factbook/geos/id.html (Accessed July 2010) 2 3. Central Intelligence Agency, “The World Factbook: Singapore,” Online, https://www.cia.gov/library/publications/the-world-factbook/geos/sn.html (Accessed July 2010) 4 7. EDGAR Online, “Wynn Resorts LTD 10-K,” Online, http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0001193125-10-043336 (Accessed July 2010) 8 9. Wynn Resorts, “Corporate Governance,” Online, http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-govboard (Accessed July 2010) 10 11. Yahoo! Finance, “Wynn Resorts, Limited Earnings Conference Call (Q1 2010),” Online, http://biz.yahoo.com/cc/9/113359.html (Accessed July 2010)
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