Thu. Nov 26th, 2020

Wynn Resorts (WYNN) reported earnings of $370.5M vs. the consensus estimate of $430.61M. The stock had a weekly Performance: +10.55% and a technical RSI: 61.12.

  • Additionally, the company launched online sports and casino offerings in New Jersey and has plans to expand in other states. It’s in the process of obtaining licenses in Tennessee and Virginia. 
  • Maryland, South Dakota, and Louisiana are among the latest states to approve sports betting. 
  • The firm is encouraged by its Macau business, as it expects to see greater demand as restrictions continue to ease over there. 
  • Deutsche Bank raised its target from $93 to $95 on Friday.
  • Despite not reacting much after its earnings announcement, WYNN is having a strong month, up 7.7%.

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