NEW: Wynn Resorts BLEEDING Money as Secret Dubai Deal Remains Only Hope...

Wynn Resorts just rolled the dice on their Q3 earnings—and let’s just say they managed to accomplish what countless drunk tourists couldn't—lose money running a friggin ‘casino. That’s right, the company, apparently forgetting the cardinal rule that the house always wins, watched their stock take a fat plunge yesterday, dropping nearly 10%, after the company posted some less-than-stellar results. 

(Source: Reuters) 

In short,  Wynn’s Las Vegas operations, traditionally the company's crown jewel of separating boomers degenerates from their money, somehow managed to drop 1.9% to $607.2 million—a feat previously thought impossible in a city where people voluntarily throw money at fountains for good luck. Furthermore, Wynn’s adjusted property EBITDAR (that’s earnings before all the accounting stuff that makes my head hurt) numbers dropped 7.7%. Oooof. 

(Source: Giphy) 

Not to be outdone in the mediocrity department, fellow Vegas competitors Caesars and MGM weren’t exactly lighting the Strip on fire either. Both missed expectations, but at least they didn’t faceplant this hard. MGM even managed to squeeze out a little 1% revenue bump in Vegas, though it was dragged down by a drop in casino revenue. 

For this reason, Wynn isn’t just counting on the Vegas crowd anymore—they’ve got backup in Macau, China. Revenue at Wynn Macau was up 19.3%, which seems to be killing it until you see that Wynn Palace, their other Macau property, slipped 1%. So clearly, it was definitely a mixed bag in Asia, much like every other friggin ‘industry trying to gain steam with the commies.

(Source: Yahoo Finance) 

On the other hand, Encore Boston Harbor, decided to show up to the party, with a modest 1.8% revenue increase. Which isn’t exactly setting the world on fire, but at least it means people are still feeling lucky in Beantown. 

Additionally, while Vegas is definitely cooling off and Macau is doing its best to hold the line, Wynn is placing a brand-new bet in the Middle East. The company tossed $18.2 million into its 40%-owned UAE joint venture, Wynn Al Marjan Island. CEO Craig Billings is hyping this as a “must-see” destination - which fair warning, is exactly what they said about Fyre Festival. And we all know how that turned out LOL. 

(Source: X) 

Now of course, while this all sounds exciting on paper - investors aren’t quite buying the hype just yet. Maybe they’re still skeptical after that whole "sluggish Vegas" thing. Or maybe they are noticing that the company is currently sitting on $11 billion in debt, with $2.38 billion in cash—a ratio that would get any normal person's kneecaps introduced to baseball bats in the old Vegas days.

Plus, throw in the fact that the company’s stock has been on a losing streak, down 9.61% year-to-date and hitting its lowest point since September - investor confidence is definitely dwindling. 

(Source: Giphy) 

So, given all this, what’s next for Wynn? Well, it’s obvious that they’re banking on that UAE resort to pay off big and hoping Macau can keep the momentum going. But right now, Wynn's future looks about as certain as a roulette spin, though considerably less exciting. In fact, they’re basically the guy at the craps table who keeps insisting his system is going to work, right after he borrows money for the fifth time.

Meaning, place your bets accordingly friends - just maybe not on $WYNN stock. As always stay safe and stay frosty! Until next time…

P.S. The Trump frenzy is in full swing, and with the Dow leading the charge up 1,300+ points this morning - our systems have just caught a massive stock that is primed to EXPLODE very, very soon. Click here now to be in the know before we drop the ticker…

Stocks.News does not hold positions in companies mentioned in the article.