Wynn Resorts (WYNN) Expands Global Presence With UAE Mega-Resort, JPMorgan Raises Price Target
Wynn Resorts, Limited (NASDAQ: WYNN) ranks among the best sin stocks to buy in 2026. JPMorgan maintained its overweight rating and increased its price target for Wynn Resorts, Limited (NASDAQ: WYNN) from $138 to $145 on December 8. The move comes after JPMorgan’s tour of the UAE and the planned opening of the Wynn Al Marjan Island (WAMI) resort in the first quarter of 2027.
JPMorgan compared the UAE to Singapore in terms of its ability to attract high-net-worth individuals from around the world, highlighting growing confidence in the property and prospects of the UAE as an emerging gaming destination.
Meanwhile, Macquarie says recently disclosed financial data from Wynn Resorts for the Wynn Al Marjan Island development could be conservative, indicating that gross gaming revenue could potentially exceed $2 billion per year.
Additionally, the company projects that non-gaming revenue from large retail, high ADR, and other non-gaming features would “comfortably” reach between $200 million and $400 million annually. The Company also expects the Company’s EBITDA to remain constant in 2029 and beyond, potentially due to demand for Ras Al Khaimah outstripping supply of hotel rooms. Nonetheless, Macquarie remains optimistic about the development, which it believes could boost WYNN’s share price by $25 to $50.
Wynn Resorts, Limited (NASDAQ: WYNN) is a luxury hotel and casino operator known for providing upscale resort experiences and managing high-end properties in Boston, Macau and Las Vegas.
While we recognize WYNN’s potential as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for a hugely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the reshoring trend, check out our free report on the best AI stock in the short term.
READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.
Disclosure: None. This article was originally published on Initiated Monkey.
