Friday, February 20, 2009

Take a look at WYNN

I think Wynn Resorts is the most beautiful hotel in Las Vegas, and despite the pronunciations of the death in the desert, Las Vegas will always attract people, notwithstanding our current economic climate!

But if you are going to buy a casino stock, what else can you buy? Kerkorian pledged another 48.8 million shares of his MGM stock today, and Las Vegas Sands salvation isn't coming until Singapore is up and running, so what else can you buy? WYNN is the only casino that still has a decent balance sheet, helped by Steve opportunistically selling shares whenever he could.

The stock price is even getting under Steve's skin. Why else has he found a new girlfriend, despite having married his wife twice? He's needs some new excitement, because Wall Street now isn't any fun!

But Steve, still sells a good conference call, and we will hear about it Tuesday after the market closes when WYNN gives their earnings. And you'll probably get a pop in the stock.

So you buy WYNN at 25 for it's enterprise value. And for the sales job Steve will give Tuesday!

And if you haven't been to WYNN, here's a piece on it with plenty of pictures.

So take a look at Wynn!

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