Macau on line casino regulators look into allegations towards Wynn

Massachusetts gambling regulators want to know why Steve Wynn and Wynn Resorts failed to disclose a $7.5 million settlement when they were applying for a state license in 2013
Macau on line casino regulators look into allegations towards Wynn
Author

31 January, 2018

LMR Partners LLP's holdings in Wynn Resorts were worth $6,321,000 at the end of the most recent reporting period.

BuzzFeed News reached out to the board for the statement and more details.

The Nevada Gaming Control Board, which is one of two regulatory agencies that oversees gaming in the state, has the power to take punitive action against Wynn as an individual, which would not affect the corporation's license in his name, according to the Nevada Independent. Telsey Advisory Group reissued an outperform rating and issued a $145.00 target price (up from $110.00) on shares of Wynn Resorts, Limited in a report on Wednesday, April 26th. Accern also gave news stories about the casino operator an impact score of 46.5127096738622 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock's share price in the near term.

Several equities analysts have recently issued reports on WYNN shares. Barclays Capital maintained Wynn Resorts, Limited (NASDAQ:WYNN) on Friday, October 27 with "Equal-Weight" rating. Zacks Investment Research raised shares of Wynn Resorts from a hold rating to a buy rating and set a $188.00 price objective for the company in a research note on Wednesday, December 27th. Jefferies Group started coverage on Wynn Resorts in a report on Thursday, January 18th.

Basically, a price target is an individual analyst's projection on the future price of a stock. The stock of Wynn Resorts, Limited (NASDAQ:WYNN) earned "Buy" rating by CFRA on Friday, January 26.

Among 20 analysts covering FirstEnergy (NYSE:FE), 6 have Buy rating, 1 Sell and 13 Hold.

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After a recent check, the 14-day RSIfor Wynn Resorts Ltd (WYNN) is now at 42.90, the 7-day stands at 33.00, and the 3-day is sitting at 13.64. The stock has a 50 day moving average price of $133.18 and a 200-day moving average price of $117.50. The firm has a market cap of $17,620.00, a PE ratio of 23.57 and a beta of 1.73. The stock's 52-week range is $92.67 to $203.63, and its 3-month range is $140.38 to $203.63. The firm's revenue was up 29.9% on a year-over-year basis. equities research analysts forecast that Wynn Resorts will post 7.73 EPS for the current fiscal year. The casino operator reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. A consensus recommendation provides a snapshot of current thinking about a stock, so it can serve as a benchmark against which you can compare a single analyst's opinion to gauge how mainstream it is. Technical indicators, collectively called "technicals", are distinguished by the fact that they do not analyze any part of the fundamental business, like earnings, revenue and profit margins. Shareholders of record on Thursday, February 15th will be paid a $0.50 dividend.

Relative strength index (RSI-14) for Wynn Resorts Ltd. (WYNN) is at 41.95.

In Massachusetts, where Wynn Resorts is building a $2.4 billion casino on Boston Harbor, the company could be in trouble with regulators for failing to disclose the settlement during the licensing process. The shares were sold at an average price of $128.08, for a total transaction of $285,106.08. Wynn Resorts comprises about 0.6% of LMR Partners LLP's portfolio, making the stock its 24th biggest position. A reading under 30 may indicate that the stock is oversold, and possibly undervalued.

In other news, President Matt Maddox sold 59,260 shares of the company's stock in a transaction dated Monday, November 13th. The disclosure for this sale can be found here. Insiders have sold 95,055 shares of company stock valued at $14,629,975 in the last ninety days.

WARNING: "Handelsinvest Investeringsforvaltning Lowers Position in Wynn Resorts, Limited (WYNN)" was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. The ROIC Quality of Wynn Resorts, Limited (NasdaqGS:WYNN) is 10.539465.


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