WYNN is a big investment opportunity now; driven by Vegas VIP strength, Boston quality, owned land value, and upcoming Middle East expansion, overcoming past pandemic/rate/inflation headwinds.
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Next up is Wynn Resorts. Do you want to talk about the final stage of kangaroo stock? Look at Wynn Resorts. It's basically in the same place in 5 years, right? But how much has happened in these 5 years!
Many of the worst things that could have happened to a company like Wynn Resorts have happened since 2020. The 2020s have been a tough decade for Wynn so far , haven't they ? You know that the Corona pandemic hit at the beginning of the 2020s.
This resulted in Vegas being closed for a long time and Macau being closed intermittently for about 3 years. It was funny. While Vegas began to see a surge in crowds in 2021 and 2022, Macau was still in a state of disarray due to lockdowns and restrictions.
It did n't seem like Macau would be fully back to normal before 2024 , did it? And that was very destructive. Then interest rates rose sharply , which became a problem for companies like Wynn that had borrowed heavily to build large resorts.
This is also seen as a negative aspect , right? At the same time , rampant inflation, which puts pressure on consumers , could reduce tourism. Additionally, at least in the case of US businesses , the number of international tourists has definitely decreased a lot, because we all know the changes in America in the last few years , right?
While it didn't affect Wynn as much as other players on the Las Vegas Strip , it did hurt everyone to some extent. So, there are many reasons here , right? However, I believe things are going to get a lot better for Win in the coming years , right?
I think opening a property in the Middle East next year is a huge opportunity in the long term, right? Of course, Macau continues to have good results , right? There will be times in Macau when business will be very good, sometimes bad, and sometimes normal.
But at the end of the day, Macau is a great opportunity. They have some major properties in Macau , especially Wynn Palace, right ? We know that they are the best positioned in Vegas when it comes to VIP business and wealthy individuals.
So, it's in a great position. The Boston property, it's a really good quality property. They take very good care of it. I was there just a few months ago. That was an amazing experience.
So, everything is going well there. And ultimately, owning their own land is their great strength. They even have their own land right across from Wynn Encore, Las Vegas. That is a very valuable piece of real estate.
We'll see what they do with it in the long run. And besides, there are more international opportunities. They could pay off a lot of debt in the next few years , especially if that Middle Eastern property becomes really valuable and becomes a big opportunity like the Singapore opportunity.
So, the gist of today's story is, the stock has been through a lot , right ? And I think this is a big opportunity right now.
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