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LAS VEGAS - Wynn Resorts, Limited (NASDAQ: WYNN), a $9 billion market cap casino operator with strong financial health according to InvestingPro metrics, has announced the nomination of Anthony Sanfilippo, an experienced hospitality and gaming industry executive, for election to its Board of Directors at the upcoming Annual Meeting of Shareholders scheduled for April 30, 2025. The company also disclosed that board member Margaret "Dee Dee" Myers will not seek re-election.
Sanfilippo, known for his extensive background in the sector, served as the Chairman and CEO of Pinnacle Entertainment for nearly a decade, where he was credited with leading significant growth through strategic transactions and organic growth initiatives. His previous roles include President and CEO of Multimedia Games Inc., and Division President at Caesars Entertainment. His nomination comes as Wynn Resorts demonstrates strong operational performance, with a 9.13% revenue growth over the last twelve months and a healthy diluted EPS of $4.35.
Philip G. Satre, Chairman of the Wynn Resorts Board, expressed confidence in Sanfilippo’s ability to contribute to the company’s growth and diversification strategy, citing his "unrivaled" industry experience. Satre also acknowledged the contributions of Myers, who has been on the board since 2018, thanking her for her counsel and leadership during a challenging period for Wynn Resorts. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 1.9, suggesting effective management of short-term obligations.
Wynn Resorts is a prominent player in the global hospitality and gaming market, operating several luxury resorts and casinos, including properties in Las Vegas, Macau, and Boston. The company is also constructing an Integrated Resort in Ras Al Khaimah, United Arab Emirates, with an expected opening in 2027.
The press release statement provided the details of the nomination and the company’s operational highlights, emphasizing Wynn Resorts’ focus on long-term value creation for its shareholders. The information is based on a press release statement from Wynn Resorts.
In other recent news, Wynn Resorts has reported impressive financial results for the fourth quarter of 2024, exceeding analyst expectations with earnings per share (EPS) of $2.42, surpassing the forecasted $1.33. The company’s revenue also topped projections, totaling $1.84 billion against an anticipated $1.78 billion. Following these results, Stifel analysts raised their price target for Wynn Resorts to $128, maintaining a Buy rating, citing the company’s strategic share repurchase program and undervalued Macau operations as key factors. Jefferies also upgraded Wynn Resorts to a Buy, increasing the price target to $118, influenced by robust core business performance and developments at Al Marjan Island.
Meanwhile, CFRA’s Zachary Warring raised the price target to $113, reiterating a Strong Buy rating, after Wynn Resorts’ Q4 earnings report showed a normalized EPS of $2.42, beating consensus estimates by $1.15. The company’s operations in Las Vegas and Macau showed mixed results, with Las Vegas revenues slightly up and Macau facing a 6% year-over-year revenue decline. Citi analyst George Choi also adjusted the price target to $97, maintaining a Buy rating, highlighting Wynn’s strategic financial management and share buybacks.
These recent developments reflect a positive outlook for Wynn Resorts, with analysts expressing confidence in the company’s strategic investments and market positioning. The company continues to explore new opportunities, including expansions in the UAE and potential projects in Thailand and New York, which are expected to further bolster its financial performance.
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