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Baron Funds Comments on Wynn Resorts

August 24, 2012 | About:
Holly LaFon

Holly LaFon

249 followers
From Baron Funds' second quarter commentary:

Wynn Resorts Ltd. (WYNN) is one of the finest casino operators with properties in Macau and Las Vegas. The shares decreased 16.6% in the second quarter as investors became concerned about slowing growth in Macau, leaving the firm as a whole on slower growth trajectory until it opens its Cotai project in early 2016. We continue to be bullish about Wynn's long term opportunities as the company has maintained its market share in Macau, despite increased competition. Additionally, we believe the stock price does not fully reflect the Okada redemption or its Cotai project, for which management recently received approval. (David Baron)

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