Gaming Update: Wynn Set for Boston Opening and Why Penn Looks Dirt Cheap | Value Investing News

Gaming Update: Wynn Set for Boston Opening and Why Penn Looks Dirt Cheap

  • A lot has been going on with Wynn Resorts (WYNN) since my last post about six months ago so I figured it was time for an update.
  • In addition, I recently significantly increased long holdings in regional gaming operator Penn National (PENN) and will share some brief thoughts there.
  • If we apply an EV/EBITDA multiple of between 12x and 13x on that cash flow number, fair value for WYNN shares would be in the $155-$175 range, compared with the current price in the 130’s.
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