Wynn Resorts Expands in Europe With Crown London Acquisition

Wynn Resorts, Limited WYNN is set to acquire Crown London (Aspinalls), a members-only casino located in London’s Mayfair district. This acquisition supports the company’s strategy to expand its presence in Europe and the Middle East.The transaction is subject to regulatory approvals, expected to be finalized in the second half of 2025. The development aligns with the company’s upcoming launch of Wynn Al Marjan Island in the UAE, further boosting its global growth strategy.WYNN’s Strategic Expansion Into a Global DestinationThe acquisition provides Wynn Resorts with a foothold in a prominent global destination. This addition is expected to serve as a connection point for guests visiting other resorts, including Wynn Al Marjan Island in Ras Al Khaimah, UAE, which is set to open in the first quarter of 2027.Crown London is located in two historic townhouses on Curzon Street in Mayfair, London. It features 20 gaming tables across elegant salons, along with a restaurant and lounge. The property will continue to operate under the Crown London name until the transaction is completed.Wynn Resorts' Expansion Plans in the UAEWynn Resorts continues to make significant strides in its expansion plans within the UAE market. During the third-quarter 2024 earnings call, Wynn Resorts provided an update on its multibillion-dollar integrated resort project in Ras Al Khaimah, UAE. The company reported that the construction is progressing well with the building now at the 24th floor and covering more than 3.6 million square feet.Wynn invested $18.2 million in Island 3 during the quarter, bringing total contributions to $532.6 million. This investment includes the purchase of approximately 155 acres of land, with 70 acres reserved for future developments as part of the "Marjan Land Bank."Wynn Resorts sees this project as a strategic entry into the UAE market and is optimistic about its potential. The company believes the UAE's gaming market could grow between $3 billion and $5 billion, presenting a promising new opportunity.WYNN Stock Price PerformanceImage Source: Zacks Investment ResearchShares of Wynn Resorts have declined 4.1% in the past six months against the industry’s 8.2% rise. Although increased operating expenses are a concern, the company is likely to benefit from solid Macau performance, non-gaming businesses and development projects. Also, the focus on enhancing its shareholder value bodes well.Earnings estimates for 2025 have moved up to $4.77 per share from $4.70 in the past seven days, depicting analysts' optimism about the stock’s growth potential.WYNN’s Zacks Rank & Key PicksWynn Resorts currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the Zacks Consumer Discretionary sector are:Norwegian Cruise Line Holdings Ltd. NCLH currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.NCLH delivered a trailing four-quarter earnings surprise of 4.2%, on average. The stock has surged 35.7% in the past year. The Zacks Consensus Estimate for NCLH’s 2025 sales and earnings per share (EPS) indicates growth of 8.4% and 25.2%, respectively, from the year-ago levels.Carnival Corporation & plc CCL currently carries a Zacks Rank #2 (Buy). CCL delivered a trailing four-quarter earnings surprise of 326.4%, on average. The stock has surged 33.4% in the past year.The Zacks Consensus Estimate for CCL’s fiscal 2025 sales and EPS indicates growth of 4.1% and 24.7%, respectively, from the year-ago levels.Royal Caribbean Cruises Ltd. RCL currently carries a Zacks Rank #2. RCL delivered a trailing four-quarter earnings surprise of 16.2%, on average. The stock has surged 39.2% in the past year.The Zacks Consensus Estimate for RCL’s 2025 sales and EPS indicates growth of 9.5% and 23.8%, respectively, from the year-ago levels.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carnival Corporation (CCL): Free Stock Analysis Report Royal Caribbean Cruises Ltd. (RCL): Free Stock Analysis Report Wynn Resorts, Limited (WYNN): Free Stock Analysis Report Norwegian Cruise Line Holdings Ltd. (NCLH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks