Baron Funds Comments on Wynn Resorts Ltd.

May 29, 2014

Shares of Wynn Resorts Ltd. (WYNN, Financial), an integrated resort and casino operating company with properties in Macau and Las Vegas, gained 15% in the first quarter as the company's Macau property continued to generate strong results and investor enthusiasm grew around its new resort on Cotai, expected to open in early 2016. Discussion in Japan over legalizing gaming by this summer added momentum to the stock as well, as the company remains a frontrunner for a license to operate in Japan, which is expected to be decided over the next 18 to 24 months.

From Baron Funds' first quarter 2014 commentary.

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