Today we’re talking about Wynn Resorts
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We stayed at the Encore hotel in Las Vegas 6 years ago. We can’t tell you anything about our trip there.
Why? Because what happens in Vegas stays in Vegas!
No, because we were only 2 years old. I don’t remember much of my life when I was that young, do you?
No, I don’t . . . Yesterday Wynn Resorts had an Investors Day where CEO Steve Wynn had a bold announcement.
Steve Wynn wants to build Wynn Paradise Park. He said it will be “Just like Disney”
Just like Disney? What if Disney wanted to be “Just like Wynn”? You would see slot machines at the Emporium gift shop on Main Street at Disneyland.
Wynn is trying to make Vegas more family-friendly with a Disney-style amusement park.
He plans to build the park behind the Wynn and Encore hotels.
Right now it’s a 130 acre golf course which pulls in $5 million a year.
The waterpark, which Wynn called a “recreational lake concept” during his presentation, could generate $300 million to $400 million a yaer.
This is why some analysts raised their price targets for the stock.
It will have a one mile beach
And fireworks every night.
It will offer water skiing
A 1,000 room hotel will be built for the park.
Total cost? $1.6 billion dollars.
Wynn bought a ton of his stock when it traded between $50 and $75.
If you were a betting person, you could have followed his lead.
It doesn’t look like a gamble now, does it?
It traded as low as $49.95 on January 14th.
Today it closed up 11-1/2% and it closed at $99.99, up 96% from January 14th.
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We’re willing to wager that we will be having more insights into the stock market in the very near future. Stay tuned.