Morningstar analyst Dan Wasiolek suggested in a recent report that selling the land could allow Wynn to redirect funds toward more promising international ventures
A top casino industry expert thinks Wynn Resorts has a chance to boost its value by selling a key plot on the Las Vegas Strip. While the company has not said it plans to sell the land, a new report hints that its 38-acre empty lot could bring in offers close to $1 billion.
Analyst Suggests Wynn Could Boost Global Expansion by Selling Vegas Land
Dan Wasiolek, a Morningstar analyst, shared this estimate in a recent report. He thinks a sale might let Wynn shift money to more exciting projects abroad. Wynn already runs big casinos in Macau and looks at new plans in the UAE and Thailand. Moving cash from a slow-growing US asset could help Wynn grow faster around the world.
Wynn Resorts has not put the land up for sale yet. However, the company talked about it in their latest earnings call. CEO Craig Billings called it part of Wynn’s “land bank,” hinting at possible future use. However, any building plans seem to be on pause. Billings said the company is thinking about where to invest across several global areas.
Wasiolek claims that casinos in the US in Las Vegas struggle to achieve high returns on investment. He notes that Las Vegas’ performance links to US GDP and faces tough competition making it hard for operators to earn big profits. His study shows that the market’s easy entry further reduces its appeal as a place to build.
Sale of Idle Strip Land May Help Wynn Balance Books and Grow Payouts
The expected $1 billion sale would equal over $26 million per acre based on current value estimates. If Wynn decides to sell, Wasiolek thinks the money could help cut debt and boost financial freedom. This move might also support better returns for shareholders, including payouts and stock buybacks in the years ahead.
Tilman Fertitta, a billionaire businessman and Wynn’s biggest individual stockholder, has not said anything about the property. Although Fertitta, now the US ambassador to Italy, has stayed a hands-off investor, some market watchers think he might push to make bolder strategic decisions if he decides to take a more hands-on role.For the time being, Wynn keeps its focus on keeping its finances in check. Wasiolek expects the company to take a careful approach to giving money back to investors, with dividends possibly making up 30% of earnings from 2026 and stock buybacks growing to $500 million each year by 2030.
