Wynn Resorts trades at 10x cash earnings versus the industry's usual 12x, leaving it 33% below where fair value starts. Applying 12x to next year's cash earnings, give or take 12%, puts fair value at $113.75-$144.77 against $75.88 now, with a pullback level at $49.35. The view rests on valuation levels from reported earnings and revenue estimates, without fundamental work. x.com 

Wynn Resorts' high-end positioning makes it far less exposed to a Las Vegas downturn than mass-market casino operators. The Wynn brand caters to the top 1%, so a downturn hits it about as much as it hits Rolls-Royce. Wynn Palace in Macau is not a mass-market property either. x.com  x.com 

Hantavirus headlines are being pattern-matched to 2020, and markets react to perception before confirmed reality, so fear alone can shift attention, behavior and capital flows. Whether a lockdown happens matters less than whether the headlines dominate for 60-90 days. That puts Delta, United, American Airlines, Carnival, Royal Caribbean, Norwegian Cruise Line, Marriott, Hilton, Las Vegas Sands and Wynn on the bearish side, while automation and AI infrastructure trends accelerate. x.com 

MGM Resorts' debt and operating leverage make its low free-cash-flow yield risky. A recession would make the situation very bad even if conditions otherwise look fine, and Diller is following the Liberty levered-buyback model. x.com  x.com  x.com 

Red Rock Resorts may be worth a bet off the Las Vegas Strip, with consensus forecasting 69% free cash flow growth in 2027 and 2028. Brothers Frank and Lorenzo Fertitta are its largest beneficial owners, with 90.3% combined voting power, so the founding family remains firmly in control. x.com  x.com 

MGM Resorts looks due for a bounce after falling nine weeks in a row, something it has done only once in 38 years, at the financial-crisis lows, and never ten. It has retraced much of the takeover bid from a couple of months ago and now trades about 13% below the $48.30 offer price, with RSI getting oversold. A higher bid is even possible. x.com 

MGM Resorts could respond to a dropped buyout bid with an aggressive buyback before the market sizes its Japan opportunity. The stock fell after the buyout bid was withdrawn, though the deal never made much sense. A $2 billion buyback, about 20-25% of shares outstanding, would not be surprising and could move the needle. x.com 

UAE equities look oversold, with the core ETF down 20% in a month on panic selling detached from reality. Pressure is on the Trump administration to end the conflict quickly, and a long war looks unlikely given falling strikes. Afterward, Gulf states may invest less in US markets and more at home, while strong-cash-flow energy, utility, bank and real estate stocks fit a value revival and maturing investment infrastructure. Risk remains considerable, so buying gradually suits the volatility. … Show more