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Wynn Resorts Limited Executive Summary

Kelly Farrell

Siena Heights
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Executive Summary

Case Statement:

Wynn Resorts is a 5-star resort that offers hotel lodging, game rooms, slot machines, poker

rooms, casino gaming, etc. Guest can enjoy fine dining, as well as relaxation at the facility's spas

and boutiques.

Mission and Vision Evaluation:

Wynn Resorts commits to offering a lifetime experience with their award-winning luxury hotels

and casinos for all of their customers. The company’s mission and vison statement promotes a

high-quality service to all their customers while continuing to work toward advancement in the

gaming innovations and resort amenities. Wynn’s mission is to maximize shareholders wealth

while growing the business. The company also envisions a strong work environment for

employees to grow with endless opportunities for success.

Milestones:

Wynn Resorts Limited began its first establishment in Las Vegas in 2005, with other resort

location to soon follow. In the next years to follow Wynn Macau opened its door in 2006, and

next to come was Encore in 2008 an extension to Wynn Las Vegas. The company was listed on

the “Best Place” to work list in 2013. In addition to their success Wynn was listed on Traveler’s

“Gold List” for the tenth time.

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External Assessment:

The company’s greatest opportunities are to push their way into the online gaming section of the

industry. Online gaming is becoming a wide market to tap into. he clients interest level comes

in second place for opportunities. The American Gaming Association states the about 34 percent

of Americans will visit a casino annually (David, 2017). The highest rated threat for the

company is the risk of economic down slid, resulting in a decrease in their profit margins. The

second highest threat to the company is the concern for economic changes with China.

Internal Assessment:

The company’s highest rated strength is customer service and brand loyalty. These are key

elements that benefit the resort. The company’s internal weakness rates high for employee

turnover and a turn in customer service decline from low morale. This key point is a big concern

for the company. A company needs a strong employee foundation for a successful business to

withhold hard times.

Industry Analysis:

Wynn has a very highly competitive advantage over their rivals in the industry. The company

has a good reputation with customers that believe in brand loyalty. Wynn is a large enough

company that it is not only well known to the public but also connected with many suppliers that

will allow Wynn to gain bargaining power to maintain a completive advantage.

Financial Analysis:

The firm’s strongest financial point is the company has a great current capital ratio of 1.44%

which indicates that the company has assets that could be liquidated if necessary. The company’s
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stockholder’s equity is in a good position at $1743,045. The firm has a sufficient amount of

working capital, currently at $1,697,247. The company’s current capital ratio is at 1.44% which

is ideal for a strong financially secure company.

Competitive Strategies:

The three strategic alternatives that were considered was to branch out into an online gaming

section of the company. This alternative for customers might be a better option for the company

then the second choice of developing more resort locations. The company’s weakness and threats

might be overcome with an alternative like developing an online gaming market for customers.

This would utilize the company’s strengths and opportunities in a way that has not been offered

before. The third option was to market to another demographic of gamer with social casino

games. This would involve bringing in more from the digital space. Social casino games are a

phenomenal tool to bring in that social gamer who will stay in hotel rooms and visit the

restaurants.

Recommended Strategy:

The strategy that I would recommend going with is to adapt to the online gaming section.

Especially in today's pandemic situation online would be a good option out of the three.

Spending the money and expanding to addition al locations could be a gamble financially.

Developing more social casino games could be found beneficial although the overhead is still

associated with this alternative.

Ethical and Social Responsibility Dimensions of the Recommended Strategy:

The company’s weakness and treats might be overcome with an alternative like developing an

online gaming market for customers. This would utilize the company’s strengths and
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opportunities in a way that has not been offered before. The company prides themselves on

creating an experience that the customer will remember.

Implementation Plan:

The company was faced with three alternative strategy options to decide from. All three ideas

could potentially generate revenue that was non-existing. The strategy alternative that was

decided was to tap into a virtual gaming trend that will take on a different approach for the

casino. This idea does not have the need of generating a large amount of operating expense. The

amount of income generated each year is roughly between $40- $50 billion dollars. This is a

different angle for Wynn Resorts to market themselves.