Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts. The Company owns and operates two destination casino 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). During the year ended December 31, 2006, the Company was constructing Encore at Wynn Las Vegas (Encore) and it continues to develop and construct the second phase of Wynn Macau. Wynn Las Vegas offers 2,716 rooms and suites, including 36 fairway villas and six private-entry villas for its premium guests. As of September 6, 2006, Wynn Macau featured approximately 600 hotel rooms and suites, approximately 220 table games and approximately 380 slot machines in approximately 100,000 square feet of casino gaming space, seven restaurants, approximately 26,000 square feet of retail space, a spa and salon, entertainment lounges and meeting facilities.
*Above taken from Google Finance
I exited my position on WYNN this afternoon just to take some profit. I am still very much bullish and have several other holdings.
Right now, WYNN is holding on to the 20 day moving average. It looks like the 20 day moving average has been acting as support since late July 2007. If you are a long term investor or even a mid-term investor, this could possibly be a good time to get in. You can tell by the red line (20 day moving average) that it hasn't dipped much below that.
Recent News on WYNN:
Wynn S&P Rating Up on Better Liquidity
Stocks On The Move: Ford, Wynn Resorts...
Labels: Featured Stocks, Finances