New York's First Full-Scale Casino Opens to Gamblers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy WYNN?
Source: Newsfilter
- Casino Opening: New York City's first full-scale casino officially opened on Tuesday, marking a significant milestone more than a decade after the state's gambling expansion, with Resorts World securing one of the new licenses expected to generate $7 billion in tax revenue for the state.
- Job Creation: The expansion has already created over 1,200 new jobs, with an additional 500 expected by summer, demonstrating the project's positive impact on the local economy while also providing training opportunities for residents.
- Tax Policy: Resorts World is required to pay 63% on slot revenue and 30% on table game revenue, although it included a clause in its license bid to lower its tax rate to match competitors once they are operational, indicating a strategic approach to maintain competitiveness.
- Future Developments: The casino plans to build the city's first sportsbook, further solidifying its position in the entertainment industry, as the dream of Queens becoming an entertainment hub is gradually realized, drawing attention from various stakeholders including notable artist Nas.
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Analyst Views on WYNN
Wall Street analysts forecast WYNN stock price to rise
13 Analyst Rating
13 Buy
0 Hold
0 Sell
Strong Buy
Current: 103.440
Low
126.04
Averages
146.62
High
164.00
Current: 103.440
Low
126.04
Averages
146.62
High
164.00
About WYNN
Wynn Resorts, Limited is a designer, developer, and operator of integrated resorts featuring hotel rooms, retail space, an array of dining and entertainment options, meeting and convention facilities, and gaming. The Company owns and operates Wynn Las Vegas, Wynn Macau, Wynn Palace, Cotai, Wynn Mayfair, and operates Encore Boston Harbor. Wynn and Encore Las Vegas consist of two hotel towers with a total of 4,748 spacious hotel rooms, suites, and villas. Encore Boston Harbor features 671 hotel rooms and suites, a spa, 14 dining and lounge venues, a nightclub, and a ballroom and meeting spaces. Wynn Macau is in the Macau Special Administrative Region of the People's Republic of China with two luxury hotel towers. Wynn Palace offers 1,706 exquisite rooms, suites, and villas, 14 food and beverage outlets, meeting and convention space, an extensive boutique shopping esplanade, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a spa and salon.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Wynn Las Vegas Wins Eight Awards at 2026 Southern Nevada Hotel Concierge Awards
- Award Recognition: Wynn Las Vegas earned eight awards at the 2026 Southern Nevada Hotel Concierge Association Top Honors Awards, the highest of any resort in Las Vegas, highlighting its excellence in dining, nightlife, and entertainment.
- Performance in Shows and Dining: Notably, Awakening won Best Production Show, Delilah secured Best Supper Club for the fourth consecutive year, and Wing Lei was named Best Asian Restaurant for the seventh year in a row, showcasing Wynn's ongoing innovation and leadership in high-end dining and entertainment experiences.
- Nightlife Dominance: Encore Beach Club and XS Nightclub were awarded Best Dayclub and Best Nightclub, respectively, marking their tenth consecutive wins, indicating Wynn's strong appeal and customer loyalty in the nightlife market.
- Resort Comprehensive Advantage: With 4,748 luxury rooms and extensive facilities including 196,000 square feet of casino space and multiple award-winning restaurants, Wynn Las Vegas further solidifies its position as a premier resort destination.
See More
Wynn Las Vegas Wins Eight Awards at 2026 Southern Nevada Hotel Concierge Awards
- Exceptional Dining Experience: Wynn Las Vegas's Wing Lei restaurant has been named Best Asian Restaurant for the seventh consecutive year, showcasing a menu rooted in Cantonese, Shanghai, and Szechuan cuisines with fresh seafood and seasonal ingredients, further solidifying its leadership in the high-end dining market.
- Award-Winning Entertainment: The Awakening show has won Best Production Show for the third time, enhancing Wynn's entertainment brand image with advanced stage technology and dynamic choreography, attracting more visitors to experience its offerings.
- Nightlife Double Win: Encore Beach Club and XS Nightclub have been awarded Best Dayclub and Best Nightclub, respectively, marking a decade of consecutive wins, which further cements Wynn's dominance in the Las Vegas nightlife scene.
- Golf Course Honors: Wynn Golf Club has been recognized as Best Golf Course, being the only championship golf course on the Las Vegas Strip, its impeccably maintained greens and fairways add unique charm to the resort experience, attracting a high-end clientele.
See More
Analysis of Upcoming U.S. Jobs Report Outlook
- Job Market Expectations: According to FactSet consensus estimates, the U.S. is expected to add only 50,000 jobs in April, significantly lower than March's 178,000, indicating signs of economic slowdown that could impact investor confidence.
- Unemployment Rate Stability: The unemployment rate is anticipated to remain steady at 4.3%, suggesting that despite the decrease in job additions, the labor market remains relatively stable, potentially alleviating fears of an economic downturn.
- GDP Growth Situation: The U.S. GDP grew at a seasonally adjusted annualized rate of 2% in the first quarter, higher than the fourth quarter's 0.5% but below the 2.2% estimate, reflecting economic sluggishness that may influence future monetary policy decisions.
- Market Volatility: Despite a strong performance in April, with the S&P 500 and Nasdaq hitting record highs, investors should remain cautious of the upcoming
See More
New York City Opens Its First Full-Scale Casino
- Casino Opening: Resorts World, New York City's first full-scale casino, officially opened on April 28, 2026, marking a significant milestone in the state's gambling expansion over the past decade, expected to attract numerous visitors and boost the local economy.
- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
See More
New York's First Full-Scale Casino Opens to Gamblers
- Casino Opening: New York City's first full-scale casino officially opened on Tuesday, marking a significant milestone more than a decade after the state's gambling expansion, with Resorts World securing one of the new licenses expected to generate $7 billion in tax revenue for the state.
- Job Creation: The expansion has already created over 1,200 new jobs, with an additional 500 expected by summer, demonstrating the project's positive impact on the local economy while also providing training opportunities for residents.
- Tax Policy: Resorts World is required to pay 63% on slot revenue and 30% on table game revenue, although it included a clause in its license bid to lower its tax rate to match competitors once they are operational, indicating a strategic approach to maintain competitiveness.
- Future Developments: The casino plans to build the city's first sportsbook, further solidifying its position in the entertainment industry, as the dream of Queens becoming an entertainment hub is gradually realized, drawing attention from various stakeholders including notable artist Nas.
See More
Wynn Resorts Releases 2025 ESG Report Highlighting Sustainability and Community Impact
- Employee Development Investment: In 2025, Wynn Resorts continued to invest in its workforce by awarding stock grants to eligible employees in celebration of Wynn Las Vegas's 20th anniversary, which enhances employee loyalty and job satisfaction by recognizing long-term contributions.
- Significant Community Contributions: In 2025, Wynn Resorts donated over $20.6 million to nonprofit organizations across North America and raised $1.4 million through employee-led fundraising, with participation from over 2,600 employees supporting more than 300 community initiatives, further solidifying the company's image in social responsibility.
- Progress in Environmental Sustainability: Wynn Resorts made notable advancements towards its environmental sustainability goals by implementing waste reduction initiatives and aligning with Global Reporting Initiative (GRI) standards and Sustainability Accounting Standards Board (SASB) frameworks, showcasing the company's comprehensive performance in environmental, social, and governance aspects.
- Future Development Strategy: Wynn Resorts is developing an integrated resort project in the UAE in partnership with Marjan, set to open in 2027 with 1,530 rooms and 22 dining venues, demonstrating the company's strategic positioning in global market expansion and the luxury tourism sector.
See More
Wynn Las Vegas Wins Eight Awards at 2026 Southern Nevada Hotel Concierge Awards
- Award Recognition: Wynn Las Vegas earned eight awards at the 2026 Southern Nevada Hotel Concierge Association Top Honors Awards, the highest of any resort in Las Vegas, highlighting its excellence in dining, nightlife, and entertainment.
- Performance in Shows and Dining: Notably, Awakening won Best Production Show, Delilah secured Best Supper Club for the fourth consecutive year, and Wing Lei was named Best Asian Restaurant for the seventh year in a row, showcasing Wynn's ongoing innovation and leadership in high-end dining and entertainment experiences.
- Nightlife Dominance: Encore Beach Club and XS Nightclub were awarded Best Dayclub and Best Nightclub, respectively, marking their tenth consecutive wins, indicating Wynn's strong appeal and customer loyalty in the nightlife market.
- Resort Comprehensive Advantage: With 4,748 luxury rooms and extensive facilities including 196,000 square feet of casino space and multiple award-winning restaurants, Wynn Las Vegas further solidifies its position as a premier resort destination.
See More
Wynn Las Vegas Wins Eight Awards at 2026 Southern Nevada Hotel Concierge Awards
- Exceptional Dining Experience: Wynn Las Vegas's Wing Lei restaurant has been named Best Asian Restaurant for the seventh consecutive year, showcasing a menu rooted in Cantonese, Shanghai, and Szechuan cuisines with fresh seafood and seasonal ingredients, further solidifying its leadership in the high-end dining market.
- Award-Winning Entertainment: The Awakening show has won Best Production Show for the third time, enhancing Wynn's entertainment brand image with advanced stage technology and dynamic choreography, attracting more visitors to experience its offerings.
- Nightlife Double Win: Encore Beach Club and XS Nightclub have been awarded Best Dayclub and Best Nightclub, respectively, marking a decade of consecutive wins, which further cements Wynn's dominance in the Las Vegas nightlife scene.
- Golf Course Honors: Wynn Golf Club has been recognized as Best Golf Course, being the only championship golf course on the Las Vegas Strip, its impeccably maintained greens and fairways add unique charm to the resort experience, attracting a high-end clientele.
See More
Analysis of Upcoming U.S. Jobs Report Outlook
- Job Market Expectations: According to FactSet consensus estimates, the U.S. is expected to add only 50,000 jobs in April, significantly lower than March's 178,000, indicating signs of economic slowdown that could impact investor confidence.
- Unemployment Rate Stability: The unemployment rate is anticipated to remain steady at 4.3%, suggesting that despite the decrease in job additions, the labor market remains relatively stable, potentially alleviating fears of an economic downturn.
- GDP Growth Situation: The U.S. GDP grew at a seasonally adjusted annualized rate of 2% in the first quarter, higher than the fourth quarter's 0.5% but below the 2.2% estimate, reflecting economic sluggishness that may influence future monetary policy decisions.
- Market Volatility: Despite a strong performance in April, with the S&P 500 and Nasdaq hitting record highs, investors should remain cautious of the upcoming
See More
New York City Opens Its First Full-Scale Casino
- Casino Opening: Resorts World, New York City's first full-scale casino, officially opened on April 28, 2026, marking a significant milestone in the state's gambling expansion over the past decade, expected to attract numerous visitors and boost the local economy.
- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
See More
New York's First Full-Scale Casino Opens to Gamblers
- Casino Opening: New York City's first full-scale casino officially opened on Tuesday, marking a significant milestone more than a decade after the state's gambling expansion, with Resorts World securing one of the new licenses expected to generate $7 billion in tax revenue for the state.
- Job Creation: The expansion has already created over 1,200 new jobs, with an additional 500 expected by summer, demonstrating the project's positive impact on the local economy while also providing training opportunities for residents.
- Tax Policy: Resorts World is required to pay 63% on slot revenue and 30% on table game revenue, although it included a clause in its license bid to lower its tax rate to match competitors once they are operational, indicating a strategic approach to maintain competitiveness.
- Future Developments: The casino plans to build the city's first sportsbook, further solidifying its position in the entertainment industry, as the dream of Queens becoming an entertainment hub is gradually realized, drawing attention from various stakeholders including notable artist Nas.
See More
Wynn Resorts Releases 2025 ESG Report Highlighting Sustainability and Community Impact
- Employee Development Investment: In 2025, Wynn Resorts continued to invest in its workforce by awarding stock grants to eligible employees in celebration of Wynn Las Vegas's 20th anniversary, which enhances employee loyalty and job satisfaction by recognizing long-term contributions.
- Significant Community Contributions: In 2025, Wynn Resorts donated over $20.6 million to nonprofit organizations across North America and raised $1.4 million through employee-led fundraising, with participation from over 2,600 employees supporting more than 300 community initiatives, further solidifying the company's image in social responsibility.
- Progress in Environmental Sustainability: Wynn Resorts made notable advancements towards its environmental sustainability goals by implementing waste reduction initiatives and aligning with Global Reporting Initiative (GRI) standards and Sustainability Accounting Standards Board (SASB) frameworks, showcasing the company's comprehensive performance in environmental, social, and governance aspects.
- Future Development Strategy: Wynn Resorts is developing an integrated resort project in the UAE in partnership with Marjan, set to open in 2027 with 1,530 rooms and 22 dining venues, demonstrating the company's strategic positioning in global market expansion and the luxury tourism sector.
See More
