Please ensure Javascript is enabled for purposes of website accessibility

Does Wynn Resorts Need a Complete Rebranding?

By Rich Duprey – Apr 10, 2018 at 9:08PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The casino operator might still carry the same luxury cachet without its founder's name on the building.

As gaming regulators around the country and the world delve into the misconduct allegations against Wynn Resorts (WYNN -2.05%) founder and former CEO Steve Wynn, the casino operator has said it is definitely considering renaming the Wynn Boston Harbor resort -- its building in Everett, Massachusetts -- to ensure it can retain its license to operate the casino. The time may have come when the entire company needs a rebranding.

It's clear the Wynn name has been tainted by the allegations. Public opinion -- and that of regulators and legislators -- is important. With tens of billions of dollars in global licensing at risk, Wynn Resorts may have little choice but the rebrand the Boston Harbor resort.

Wynn Resorts and Encore hotel in Las Vegas

Image source: Wynn Resorts.

The name means a lot

It's a dual-edged sword, though. As the resort operator has detailed in its SEC filings, the company name, and in particular the company logo (which is Steve Wynn's signature), are among its most valuable assets.

Surnames typically cannot be patented or trademarked, unless they have attained other usage, Wynn Resorts details in its SEC filing that it has been successful in achieving this status with the U.S. Patent and Trade Office because of "Mr. Wynn's prominence as a resort developer."

While his separation from the casino operator and the sale of all his stock in the company will certainly help ameliorate some of the concerns many have expressed about his continued involvement with Wynn Resorts operations, his signature emblazoned on the side of all the resorts could still be problematic. There's a delicate balancing act required here. While the company needs to distance itself from the accusations against Wynn as an individual, the resorts he's built over the decades carry a cachet.

A rose by any other name

A rebranding may be a necessary, but painful, recourse. The president of the Everett resort in Massachusetts, scheduled to open next year, told reporters following a hearing of gaming regulators that Wynn Resorts is "absolutely considering a rebranding of the project."

With Wynn Resorts' concessions in Macau also coming up for renewal soon, the time to move on from its past may be now. No doubt the risk of losing its concession played a part in Hong Kong-based Galaxy Entertainment Group, buying 5.3 million shares that Wynn Resorts had just issued. It gives Galaxy an entrance into markets it doesn't already have a presence in, but it also aligns Wynn with a local Macau casino operator and may forestall the loss of its license.

There is speculation that the Massachusetts resort may be renamed Encore Boston Harbor after the Boston Herald discovered Wynn had registered various websites that used the Encore name, including That could be the easiest way for Wynn to change its dynamic without straying too far from its core, as the hotel adjacent to the flagship Wynn Resorts casino in Las Vegas is named Encore.

Wynn Resorts operates the most profitable luxury resorts in the world, but the man who created them has severed all ties to it. But, with his name still emblazoned on the sides of the buildings, Wynn Resorts has one more move it needs to make: a companywide rebranding.

Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Wynn Resorts, Limited Stock Quote
Wynn Resorts, Limited
$63.03 (-2.05%) $-1.32

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/30/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.