Shares of the casino and resort company have had a very good run lately, rising 12% in the last three months alone. While most people automatically picture the iconic Las Vegas strip when they think of casinos, Wynn Resorts (NASDAQ: WYNN ) actually makes the majority of its profits from its operations in Macau. With China's economy slowing down, how much will Wynn's bottom line be hurt? Motley Fool Asset Management analyst Bill Barker shares why investors focused on the long term have nothing to fear.
CEO Steve Wynn and his leadership team have built a strong culture at Wynn Resorts. So while betting in Macau is expected to cool off in the rest of 2013, Barker says China's economy will not be the determining factor in Wynn Resorts' long-term success. With Wynn and his team at the helm, the company is in great shape over the next five to 10 years. While shares of Wynn Resorts have nearly doubled the market's return over the past 12 months, Barker expects the stock to be a market-beater for years to come.
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