Wynn Resorts Unchanged With Departure of Founder
We are maintaining our narrow moat rating and $166 fair value estimate.
With the announcement that Steve Wynn will be stepping down as CEO of
We do not expect the firm's capital allocation strategy, which includes dividends, buybacks, and development projects, to change under Maddox, and we have confidence he'll be able to support the company's brand intangible asset (the source of its narrow moat), given that he has been an integral employee of Wynn Resorts since 2002.
Morningstar Premium Members gain exclusive access to our full analyst reports, including fair value estimates, bull and bear breakdowns, and risk analyses. Not a Premium Member? Get this and other reports immediately when you try Morningstar Premium free for 14 days.
United States