Wynn Resorts has confirmed it will not be taking part in Japan’s IR bid in Yokohama, but the operator is still looking at other Japanese markets.
The company said: “Wynn Resorts continues to closely monitor the integrated resort situation in Japan and views the country as a strong potential market.”
Wynn Resorts previously pursued Osaka then switched its sights to Yokohama as a focal point of its endeavors in Japan; however, the pandemic pushed back IR plans and Wynn Resorts also experienced heavy financial losses.
The operator announced the closure of its Yokohama office in August, attributing this to global concerns and stating an IR was not the best strategy for Wynn Resorts at that moment, but adding: “It doesn’t mean we’re not interested in the market, it just means right now, it’s not a focus for our company.”
Wynn Resorts’ current share price sits at $108.43, rising around 8% in the past week.
Following a tough 2020 for the operator, with share value plummeting to around $40 in March, Wynn Resorts has been trading at around the $100 mark since December.