Wynn Resorts, the global hospitality, entertainment and gaming company, secured a first-time BB- rating from Fitch Ratings, the leading provider of credit ratings, commentary and research for global capital markets. Announcement about the rating and the stable outlook, applicable for the gaming company along with its related companies, came Tuesday.

Per the leading credit research company, Wynn currently holds a strong portfolio of gaming assets and its recent performance points to further near and long-term growth. Fitch acknowledged the strong performance of the gaming and entertainment company in strategic markets, including Macau and Las Vegas.

Besides strong performance, the provider of credit ratings highlighted Wynn’s future growth drivers such as upcoming investments that can boost its revenue in Macau. The company is set to invest some $2.2 billion over the next decade in Macau, strengthening its offering, a move that may boost its gross gaming revenue. On the other hand, Wynn also plans improvements for its Las Vegas properties throughout this year and in 2025, strengthening further its position in Sin City, Fitch confirmed.

Another strong future growth driver is expected to be the company’s project in the United Arab Emirates. Currently, Wynn holds 40% of the ownership of the project, a massive resort development in Ras Al Khaimah that is expected to have a resounding long-term positive impact on the company.

“The ratings reflect the high-quality portfolio of its gaming assets, the expected improvement in Macau’s gaming market in terms of visitation and gaming activity that is expected to drive further improvement in credit metrics, strong results in Las Vegas, and robust liquidity that should fund near-term capital projects and could lead to further debt reduction,“

reads a statement released by Fitch Ratings

The Company Performed Well in Macau, Las Vegas

According to Fitch, Wynn enjoyed a strong performance in Las Vegas, considering the residing impact of the pandemic. Its high reputation in combination with quality properties enabled the company to attract “a more affluent customer,” and charge higher prices without a negative impact on its occupancies, wrote Fitch.

Although speculations suggest that the pent-up demand will weaken, resulting in a decline in gaming revenues, the credit ratings company explained that this could be offset by an increase in the number of convention customers. Fitch did acknowledge the positive impact of sports events and the recent opening of The Sphere on Wynn’s Las Vegas properties.

Across the ocean, in Macau, Fitch acknowledged the strong recovery of Wynn’s gaming revenues. This recovery also impacted positively on the company’s credit rating. Considering that visitation and gaming revenues are still yet to surpass the 2019 levels, Fitch predicted further growth for Wynn in Macau and strong results in the near term.

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Owen Parry, who will be stepping into the new position, will transition to this new office to ensure that he works on driving stronger customer engagement across ComeOn’s entire portfolio.

In his role, he will seek to help with building a strong rapport with the target audience and create small decisions and strategies that allow ComeOn to expand. ComeOn is similarly determined to continue promoting from within as the company wants to give existing team members a further field for self-expression and the chance to prove themselves in a more demanding business environment.

Parry will play a crucial role in the company’s further expansion and help deliver a personalized service through the sportsbook. All of this will be done to ensure that players enjoy a safer experience across the board.

Commenting on his appointment, ComeOn Group chief data officer Sherwin Jarvand said that the entire company was very proud to see another trusted company member progress to this new position. Jarvand was recently appointed under the same program.

“Offering a best-in-class player engagement across all our customer’s touch points is always at the front of our minds and with Owen leading this area now, we are in safe hands to take this strategic goal to the next level,” Jarvand explained.

Driving Success Through Customer Engagement and Personalization

ComeOn Group has been amping up its commitment under the People Strategy imitative which has seen a number of established team members progress further the corporate ladder. Among them are Matthew Cawston who became director of marketing and operations and Robert Rothman who recently stepped in as director of performance marketing.

In the meantime, ComeOn Group has been strengthening its local partnerships, including with Pragmatic Play in the Netherlands and by expanding its own operational capacities in the Nordics. The company launched the Nordic Ruby Lounge to bring even more fresh experiences to players.

ComeOn Group is one of the best-established industry players. The company was founded in 2008 and it helps dozens of brands in some of the world’s most competitive markets to deliver an immaculate product to their clients.

ComeOn delivers solutions for the casino and sports betting sectors in equal measure and nurturing internal talent has been a key ingredient for this success.

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