Wynn Resorts Enters UK Market With Crown London Acquisition: Retail Still On The Sidelines

Wynn Resorts announced last week that it has completed the acquisition of Crown London, a casino previously owned by Crown Resorts, marking its entry into the UK market.

The company said the deal was completed after approval from the UK Gaming Commission, and Crown London was subsequently renamed Wynn Mayfair.

Wynn Mayfair spans two historic townhouses at 27-28 Curzon Street, Mayfair, and is one of London's most exclusive gaming and dining destinations.

Originally known as the White Elephant Club in the 1960s, the private members-only club has hosted London's stars, royals, and eminent figures over the decades.

Wynn shares gain moderately on Friday, following seven consecutive sessions of declines.

The company's international expansion is sparking excitement among analysts.

Last month, Bank of America upgraded its rating on the company's shares to 'Buy,' stating that the hospitality firm's upcoming property in the Middle East will be a "key catalyst" for the stock.

Wynn's property in Al Marjan Island, set to open in early 2027, will be the first-ever land-based casino resort in the Middle East.

Wynn operates hotels and casinos in Las Vegas and Macau.

The U.S. hospitality sector has shown a robust post-pandemic recovery, driven by high leisure and business travel demand, though rising operational costs and economic uncertainty pose challenges.

Wynn posted lower revenue and profit for the first quarter, signaling a pullback in visits to its luxury casinos and resorts.

On Stocktwits, the retail sentiment was 'bearish,' unchanged for several months.

Wynn shares are down 3.3% year-to-date.

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