Wynn Rides High on Prospects
As reported by Reuters:" At Wynn Resorts Ltd. it isn't just the casino patrons who are hoping to hit it big. "Investors have bid up shares of the company some 41 percent this year, enthused by the company's plans in the booming Chinese gambling resort of Macau and its prospects in Las Vegas, where it opened its first and only casino last April. "The stock comes with its share of risks. The company has only one open casino, its future rests on just two markets, and it relies heavily on its chief executive, Steve Wynn, for his acumen and his ability to attract high rollers -- and to run the business despite a degenerative eye condition.
"But analysts said the hype around the Las Vegas-based company's stock is justified, with room for further gains.
"Wynn shares are trading near their 52-week high of $80.19 set earlier this month.
".As these projects are completed, Wynn's earnings per share, excluding special items, would make leaps from the 16 cents it made in 2005 -- to 82 cents in 2006, $2.22 in 2007, $2.70 in 2008 and $3.25 in 2009, analysts polled by Reuters Estimates predict."