Thursday, February 11, 2016

Wynn Boston Opening Late 2018

Wynn Resorts reported fourth quarter and full year 2015 earnings results earlier today. The results were down from last year due to continued weakness in the Macau market, and lower gaming in Las Vegas.

Despite the lower earnings Steve Wynn seemed fairly positive on the company's earnings conference call. He said Las Vegas results so far in 2016 have been strong, calling it "Apple pie shaped" - whatever that means.

Steve Wynn has been personally buying a good amount of Wynn Resorts stock lately. He gave a fairly extensive list of why he's buying the stock citing "latent" Las Vegas assets, namely a new shopping esplanade which will replace the old Ferarri showroom.

Wynn revealed the projected opening date for the Everett / Boston project. The resort will fully break ground in April 2016 and be completed 30 months from then - in late fall 2018.