Wynn Resorts (WYNN)

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[edit] Introduction

Overall this was well written. I would swap the 2nd and the third paragraphs. Also in your discussion of trends that affect Wynn's growth, I would remove the mention of terrorist attacks and disease out breaks.

How much of the Wynn's free cashflow goes to debt service?

I would also quantify the size of the gaming industry in Macau and as well as its rate of growth.

[edit] Overview

Under Developments, I wouldn't include the full detail for upcoming developments. Just wrtite 1-3 sentences about the new developments. For instance "the Wynn will be opening three new luxyry resorts, one in .... one in ... and one in ..."

[edit] Trends and Forces

I would put the part about China's middle class and the recent change in government stance under the gaming laws section.

Rename the gaming laws section government regulations and gaming laws

Rename the Debt trends and forces interest rates. Is the Wynn's debt held by US entitities or Chinese entitities?

also break out gas prices as a seperate trend

[edit] Competition

Remove private equity chart.

[edit] Bulls and Bears

greater speficifity here. You may also want to speak about the growth potential in Macau as a Bull and the potential vulnerability to interest rates and or government regulations as a Bear