result, many new casinos and hotel projects have run out of funding even before construction was completed. Although Wynn Resorts revenues have increased in the third quarter of 2008 from $769.2 million to $773.1 million, it is still not a formidable sign considering both the new Encore resort as well as the original Wynn Las Vegas FIN 3403 – 2010 Spring Term - Course Project Page 5 of 28 Pages
accounted for this small gain. With the introduction of a new resort, revenue is expected to be higher. With the new property, unfortunately, came increased expenses and, as a result, a 33% decrease in net income and higher taxes. Wynn stock shares also fell 11%. The only reason Wynn did better than analyst projections are due to an overwhelmingly positive response to the Wynn Macao where visitors and gambling is significantly higher than the U.S. NFL; People are betting big on NFLSteve Rosenbloom. Los Angeles Times. Los Angeles, Calif.: Sep 18, 2009. pg. C.4 John Avello, executive director of race and sports operations at the Wynn Resort in Las Vegas claims that although the economy is taking a hit and the Wynn may be losing resort guests, betting is still thriving when it comes to the NFL. The Wynn expected a rush of gamblers for the first week games of the season and, as expected, that is exactly what they saw. From small betters, known as “squares,” to high rollers, “known as “whales,” Avello claims that the books have been full of NFL betting. He also states that all sports betting, in general, hasn’t taken as hard of a hit as the other aspects of the casino and resort. Week two of the NFL is projected to make even more money than the first one due to the caliber of late games played compared to the first week. Eighty percent of the first week games were played in the morning and the casino may have taken a small loss due to that fact. However, one thing is guaranteed for the Wynn. When the NFL season rolls around, there are sure to be gamblers. Standard & Poor’s NetAdvantage Access the online Business Library through the UF Proxy Server. Click on the Business Databases link under Popular Guides (located in the lower part of the middle of the page). Click on Standard & Poor’s NetAdvantage in the middle of the page (or click S to get you to that part of the alphabet) under All Business Databases : 1. Go to the Stock Report Features Guide under NetAdvantage Guides at the bottom right of the page. 2. Call up, read, and summarize the Stock Report Features Guide . (One solid paragraph). For 60 years, the Standard and Poor’s Stock Reports have provided investors and analysts with up to date data and analysis on 1500 publicly held U.S. corporations. This in depth research is prepared by the S&P’s Equity Research analysts and includes qualitative research opinions as well as qualitative risk assessment. This risk assessment is the analyst’s view of a given company’s operational risk. It is recorded and ranked using a “star” system, and assesses the risk of a company’s operations not their share prices.
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