Wynn Resorts just got a serious vote of confidence. Bank of America upgraded the stock from ‘Neutral’ to ‘Buy’ and bumped the price target to $100, citing a catalyst that’s turning heads across the gaming world: Wynn’s $4 billion bet on the Middle East.
The centerpiece is Wynn Al Marjan Island, a luxury integrated resort set to rise from the shores of the United Arab Emirates. For Wynn, this isn’t just a new property—it’s a geographic pivot. By breaking ground outside the usual strongholds of Las Vegas and Macau, the company is positioning itself to tap into a new stream of high-net-worth international travelers. It’s a bold move, and Wall Street is taking notice.
Sure, the stock has slid around 20% since last fall, but that dip looks more like an opportunity than a red flag. Wynn’s fundamentals remain solid. Free cash flow yield is holding at an impressive 11%, and its current ratio of 1.9 suggests a balance sheet built to fund growth without overreaching.
The recent earnings report wasn’t perfect—EPS came in at $1.07, missing the $1.31 consensus, and revenue slightly missed at $1.7 billion. But the details tell a more encouraging story. Wynn Macau posted a 31% surge in turnover, and Wynn Las Vegas outperformed expectations on EBITDA. In short, the core business is healthy and more resilient than it might look at first glance.
Then there’s the dividend. Wynn declared a quarterly payout of $0.25 per share, putting the forward yield at roughly 1.2%. With an ex-dividend date of May 16 and payout on May 30, this consistency reflects a clear commitment to rewarding shareholders, even while investing heavily in the future.
Wynn isn’t just a recovery play—it’s evolving. With a new global footprint and a solid foundation, this stock has the potential to surprise investors who are still thinking of it as just another Vegas name.