Wynn Resorts, Limited (WYNN): A Bull Case Theory

We came across a bullish thesis on Wynn Resorts, Limited on Stock Analysis Compilation’s Substack. In this article, we will summarize the bulls’ thesis on WYNN. Wynn Resorts, Limited ‘s share was trading at $109.45 as of August 15th. WYNN’s trailing and forward P/E were 32.38 and 24.27 respectively according to Yahoo Finance.

Gayest Cities in America Per Capita in 2018

Tupungato/Shutterstock.com

Wynn Resorts, Limited (WYNN) presents an attractive investment opportunity due to its premium offerings, growth initiatives in the UAE, and potential upside from Macau as the market recovers. Wynn operates luxury integrated resorts in Las Vegas, Macau, and Boston, with a focus on high-end customers that allows it to command higher room rates and gaming revenue per visitor, providing resilience during macroeconomic downturns.

The company is developing its first UAE casino, Wynn Al Marjan, through a joint venture, featuring over 1,500 rooms, mass-market and VIP gaming, premium dining, and luxury retail. Positioned to serve Dubai residents, Ras Al Khaimah vacationers, and international visitors, the resort is on track to open in early 2027, and current valuations appear to assign minimal value to this project, offering significant upside potential. Wynn also benefits from its Macau operations, where gaming revenues remain below pre-pandemic levels, creating historically low valuations that offer compelling risk/reward. Recent data suggests a rebound, with June gross gaming revenues up double digits year-over-year, indicating improving Chinese tourism and discretionary spending.

The stock’s trough valuations at the time of purchase, combined with underappreciated growth projects like Wynn Al Marjan and the recovery potential in Macau, support a strong multi-year upside, with the potential to double over the next five years. Additionally, Wynn’s high-quality, five-star resorts could be attractive to strategic acquirers, further enhancing the company’s optionality. Overall, Wynn’s combination of premium positioning, underappreciated growth opportunities, and Macau market upside makes it a differentiated and compelling investment in the global gaming and luxury resort sector.

Previously, we covered a bullish thesis on MGM Resorts International (MGM) by David in April 2025, which highlighted the company’s resilient casino operations, asset-light transformation, and focused share buyback program. The company’s stock price has appreciated by 36.57% since our coverage. The thesis still stands as MGM continues to generate strong cash flows. Stock Analysis Compilation shares a similar view but emphasizes Wynn Resorts’ UAE growth and Macau upside.

Wynn Resorts, Limited is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held WYNN at the end of the first quarter which was 64 in the previous quarter. While we acknowledge the risk and potential of WYNN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WYNN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None.