Wynn Resorts Stock Price, News & Analysis

Wynn Resorts has announced a pre-recorded audio presentation and slide deck for the investment community regarding its new project, Wynn Al Marjan Island, an integrated resort development in Ras Al Khaimah, UAE. The presentation can be found on the Wynn Resorts Investor Relations website and will include details on this significant project, aimed at enhancing the company's portfolio in the region. The audio and slides are archived for easy access by investors. This initiative reflects Wynn's strategic growth plans in key markets, catering to both leisure and business travelers. For more information, stakeholders are encouraged to visit the official website where the resources are available.

Wynn Resorts has announced plans for its new luxury resort, Wynn Al Marjan Island, situated on Al Marjan Island in Ras Al Khaimah, UAE. The resort, projected to cost approximately USD 3.9 billion, will feature 1,500 rooms, extensive entertainment options, and world-class amenities, aiming to enhance the region's tourism appeal.

The construction is underway, with completion expected in early 2027. This flagship project, developed in partnership with local companies, is anticipated to create significant economic value through tourism and job creation, further establishing Ras Al Khaimah as a premier investment destination.

WynnBET, the online sports betting app from Wynn Resorts, launched its services in Massachusetts, becoming the 10th operational online state. Players can download the app from the Apple and Google Play Stores and register at www.wynnbet.com/ma. The launch follows a successful retail sports betting opening at Encore Boston Harbor. New users in Massachusetts can benefit from a promotional offer of $100 in betting credits. The Wynn Rewards program allows users to gain access to a variety of experiences at Encore Boston Harbor and Wynn Las Vegas. WynnBET is currently available in multiple states and is expanding rapidly.

Wynn Resorts, Limited (NASDAQ:WYNN) announced the successful initial settlement of its cash tender offer for all outstanding 7.750% Senior Notes due 2025, amounting to $600 million. The tender offer, which expired on February 15, 2023, saw valid tenders totaling approximately $506.4 million. Holders of the validly tendered Notes received $1,024.50 for each $1,000 principal, plus accrued interest. Payments for Notes delivered later, under guaranteed delivery procedures, will occur by February 21, 2023. The offering is governed by terms in the Offer to Purchase dated February 9, 2023, and the company cautions that future statements are subject to various risks and uncertainties.

Wynn Resorts (NASDAQ: WYNN) has retained its 24 Forbes Travel Guide Five-Star Awards in 2023, the highest recognition among independent hotel companies globally. Notable properties include Wynn Las Vegas, Encore Las Vegas, and Wynn Palace, which are recognized as the three largest FTG Five-Star casino resorts worldwide. The company continues to celebrate its success in North America and globally, with Wing Lei at Wynn Las Vegas and Encore Boston Harbor also receiving accolades. The COO, Brian Gullbrants, emphasized the achievement as a testament to their 27,000 employees committed to excellence.

Wynn Resorts announced a private offering of $600 million in 7.125% Senior Notes due 2031. The net proceeds will be used to repurchase 2025 WRF Notes and cover related fees. The offering will be conducted under exemptions to the Securities Act, targeting qualified institutional buyers. Additionally, Wynn Las Vegas plans to redeem its 4.25% Senior Notes due 2023 after February 28, 2023. Investors should be cautious of forward-looking statements indicating potential risks from economic conditions, interest rates, and competition.

Wynn Resorts has initiated a cash tender offer for its outstanding $600 million of 7.750% Senior Notes due 2025. The offer will expire at 5:00 P.M. New York City time on February 15, 2023. Holders who validly tender their notes will receive $1,024.50 per $1,000 principal. The completion of the tender is contingent on Wynn Resorts Finance securing new debt financing. Settlement is expected one business day following the expiration, with options for guaranteed delivery considered. This announcement does not serve as an offer to purchase the notes.