Wynn Resorts Stock Price, News & Analysis

On May 14, 2021, Wynn Las Vegas (Nasdaq: WYNN) announced an updated mask policy for guests and employees, aligning with CDC guidelines. Fully vaccinated guests are not required to wear masks, while unvaccinated individuals must. The resort has achieved a 91% vaccination rate among employees, enabling it to operate gaming areas at full capacity and remove plexiglass dividers. This change reflects a significant adjustment in health protocols, allowing for increased occupancy and a return to normalcy in operations, enhancing the guest experience at the resort.

Wynn Resorts and Austerlitz Acquisition Corporation I have agreed to a business combination, forming a new public company named Wynn Interactive, Ltd., which will trade under the ticker 'WBET' on Nasdaq. This merger aims to enhance Wynn Interactive's position in the burgeoning North American online gaming market, valued at $45 billion. The deal is expected to close by the end of 2021, contingent on shareholder and regulatory approvals. The transaction promises $640 million in cash for the new entity to support growth initiatives.

Wynn Resorts reported a decrease in Q1 2021 revenues of 23.9% to $725.8 million compared to Q1 2020. The net loss was $281 million or $2.53 per share, improving from a $402 million loss in the previous year. Adjusted Property EBITDA increased at various properties, particularly Encore Boston Harbor, but fell slightly at Wynn Macau. The company aims to grow WynnBET through a merger with Austerlitz Acquisition Corp I. Despite ongoing COVID-19 challenges, gaming revenues showed signs of recovery, particularly in Las Vegas.

Wynn Resorts (Nasdaq: WYNN) is set to launch Wynn Field Club at Allegiant Stadium later this year, marking its role as the Official Nightlife Partner of the Las Vegas Raiders. This exclusive venue will span 11,000 square feet at field level, offering premium nightlife experiences with renowned DJs, bottle service, and advanced audiovisual technology. As a Founding Partner of Allegiant Stadium, Wynn will also gain special event access and branding opportunities. The club is designed to enhance the overall gameday experience, establishing a unique entertainment venue in Las Vegas.

The Memphis Grizzlies have partnered with WynnBET in a multi-year marketing agreement aimed at enhancing the sports betting experience in Tennessee. This partnership will utilize the Grizzlies' digital platforms, including social media and mobile apps, as well as create a dedicated physical space at FedExForum. WynnBET becomes the presenting partner of several Grizzlies shows and introduces a new in-app game, Buzzer Beater Picks, offering fans chances to win prizes. The official launch of the WynnBET mobile experience will coincide with the Grizzlies' final home games.

Wynn Resorts will announce its financial results for Q1 2021 on May 10, 2021, post-market close.

The accompanying conference call is scheduled for 1:30 p.m. PT (4:30 p.m. ET), accessible via www.wynnresorts.com or by dialing (888) 455-5965 (international: (773) 799-3869), access code 3983556.

A replay of the call will be available until June 10, 2021, through the same numbers. The call will also be archived on their website.

WynnBET, a leading sports betting app from Wynn Resorts, launched its mobile sportsbook in Tennessee on April 30, 2021. This marks the sixth state where WynnBET is now operational within nine months. Users can download the app on Apple and Android devices. A marketing collaboration with the Memphis Grizzlies will kick off with events from May 10-14, featuring fan activations and digital campaigns. WynnBET also has market access opportunities in additional states, subject to regulatory approvals.

WynnBET, the online gaming division of Wynn Resorts, has announced a multi-year partnership with Minute Media, enhancing its content marketing and affiliate strategies. This collaboration aims to leverage Minute Media's platform to reach an audience of approximately 60 million monthly users in the U.S. The partnership will produce targeted sports and lifestyle content, alongside advertising initiatives. WynnBET's recent collaboration with Blue Wire Podcasts further emphasizes its efforts in expanding brand awareness and engagement in the sports betting sector.

The Wynn Golf Club introduces an exclusive golf getaway package for guests on the Las Vegas Strip, available until June 30, 2021. Starting at $595 for weekdays and $675 for weekends, the package includes deluxe accommodations, one round of golf, complimentary room upgrades, and a $100 credit for dining or spa services. Additionally, guests can benefit from a 20% discount on door-to-door shipping of golf clubs through Ship Sticks. The golf course, redesigned by Tom Fazio, features lush landscapes, water features, and a new putting green.