Today’s Research Reports on Stocks to Watch: Las Vegas Sands Corp. and Wynn Resorts

NEW YORK, NY / ACCESSWIRE / January 30, 2018 / Shares of Wynn continued to see red on Monday as Wall Street continued to absorb the reported allegations of sexual misconduct against the company’s CEO Steve Wynn. The company stated last week to CNBC, “The recent allegations about Mr. Wynn reflect allegations made in court hearings by Mr. Wynn’s ex-wife, Elaine Wynn, in her legal battle with him and the company. It is clear that Mr. Wynn’s ex-wife has sought to use a negative public relations campaign to achieve what she has been unable to do in the courtroom: tarnish the reputation of Mr. Wynn in an attempt to pressure a revised divorce settlement from him”. Shares of Las Vegas Sands Corp. saw more gains yesterday as traders continued to cheer the company’s earnings from last week.

RDI Initiates Coverage on:

Las Vegas Sands Corp.
https://rdinvesting.com/news/?ticker=LVS

Wynn Resorts, Limited
https://rdinvesting.com/news/?ticker=WYNN

Las Vegas Sands Corp. shares closed up 4.68% on nearly 8.8 million shares traded on Monday. It was a positive earnings report from last week that kept pushing shares of the stock north yesterday. It also doesn’t help that the CEO of the company’s rival stock Wynn is under scrutiny for sexual misconduct allegations. Sands reported a pickup in performance last week in Macau, an area where it has dealt with struggle for years. For the fourth quarter, revenue saw an increase of 12% YOY to hit $3.44 billion. Adjusted net profit was $700 million or EPS of $0.88 and was 43% higher. Wall Street had been expecting revenues of $3.21 billion and EPS of $0.77.

Access RDI’s Las Vegas Sands Corp. Research Report at:
https://rdinvesting.com/news/?ticker=LVS

Wynn Resorts, Limited shares continued to tank on Monday closing the day down 9.32%. The casino stock has been suffering since reports last week indicated that the company’s casino mogul leader Steve Wynn has been accused of sexual misconduct. Since the Wall Street Journal published the news, shares of Wynn Resorts have lost roughly $3.5 billion in value. Wynn has been accused of dozens of misconduct allegations which he has denied. Despite denying the allegations, he has stepped down as the Republican National Committee Finance Chair but has remained as the company’s CEO. According to the CEO, the allegations have something to do with his ex-wife Elain who is seeking a revised settlement on their divorce. This wasn’t the only reason that traders were nervous on Monday however. Bloomberg reported that Wynn may see complications in expanding in Macau, the gambling mecca of the world. Macau’s Gambling Inspection and Coordination Bureau is talking with Wynn. The gaming commissions in the states of Nevada and Massachusetts are also reviewing Wynn’s licenses. J.P. Morgan’s Joseph Greff wrote in a note on Sunday, “A scenario where (Wynn resorts) doesn’t have Steve as a CEO is not good for the company. We also have always held the belief that Steve Wynn, given his long history of creating shareholder value going back to his Mirage Resorts days, has received a premium multiple (on the stock) for his hands-on involvement.”

Access RDI’s Wynn Resorts, Limited Research Report at:
https://rdinvesting.com/news/?ticker=WYNN

Our Actionable Research on Las Vegas Sands Corp. (NYSE: LVS) and Wynn Resorts, Limited (NASDAQ: WYNN) can be downloaded free of charge at Research Driven Investing.

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