Wynn Resorts Limited (NASDAQ:WYNN) traded at a new 52-week high today of $132.90. This new high was reached on below average trading volume as 1.2 million shares traded hands, while the average 30-day volume is approximately 3.1 million shares.
Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, Encore Boston Harbor in Massachusetts opened June 2019, and various Vegas projects are currently under development. Additionally, the company expects to begin construction on a new building next to its existing Macau Palace resort in late 2021, which we forecast to open in 2025. The company gets 76% and 24% of its EBITDA from Macao and Las Vegas, respectively.
Wynn Resorts Limited share prices have moved between a 52-week high of $132.90 and a 52-week low of $35.84 and are now trading 268% above that low price at $131.78 per share.
Wynn Resorts Limited (NASDAQ:WYNN) is currently priced 8.9% above its average consensus analyst price target of $120.09.
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