Gamal Aziz Resignation from Wynn Macau (WYNN) Suggests Disappointing Palace Post-Open Ramp - Nomura

September 30, 2016 11:00 AM EDT
Get Alerts WYNN Hot Sheet
Price: $95.41 +1.31%

Rating Summary:
    17 Buy, 16 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 45 | New: 20
Trade WYNN Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Nomura analyst Harry Curtis weighed in on Wynn Resorts Ltd (NASDAQ: WYNN) amid news Gamal Aziz has resigned from his positions as President and Executive Director of Wynn Macau. Curtis notes Mr. Aziz led the development and opening of WYNN Palace and said his departure "should be an indication that the post-opening ramp of the Palace has been disappointing."

"We continue to expect downward pressure on collective EBITDA estimates for WYNN Macau," Curtis said. "In our view, it will take a long time to build a mass presence at the Palace, which was built more for premium players. Eventually, once the light rail system is operational, the Palace could achieve a 10% ROIC, but, in our view, the initial returns should be closer to mid-single digits."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Hot Comments, Trader Talk

Related Entities


Add Your Comment