Wynn Resorts maintains a premium valuation due to its luxury positioning, robust Macau growth, and strategic capex for global expansion. Q4'25 results were mixed, with Macau offsetting softness in Las Vegas and Boston; VIP and premium mass segments continue to drive revenue momentum. Strong liquidity and disciplined balance sheet support ongoing investments, notably the Wynn Al Marjan Island project, expected to boost free cash flow from 2027.









