Buckingham Negative on WYNN

Buckingham is out with a note today saying that Wynn Resorts' WYNN numbers are not anywhere near the Streets current bullish outlook. It has the stock Neutral rated, though is inclined to get more negative at current levels on strength. The note said that checks are indicating that the first 10 days of October for Property EBITDA at WYNN Macau is trending around $45MM, which is near its estimate. They noted that competitors are estimating $100MM. Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts. It owns and operates two destination casino resorts Wynn Las Vegas, on the Strip in Las Vegas, Nevada, Encore at Wynn Las Vegas located adjacent to Wynn Las Vegas, and Wynn Macau, located in the Macau Special Administrative Region of the People's Republic of China.