Wynn Resorts (WYNN) put up a solid quarter yesterday. Las Vegas Strip volumes were surprisingly strong and it’s now clear that WYNN is taking Strip share on slots and tables. The company will likely take on more market share in Macau when Wynn Cotai opens.
The company also announced a special dividend of $7.50 payable to shareholders of record on November 7. That’s a 50% increase compared to what was paid out in 2011. Additionally, WYNN doubled its regular quarterly dividend from $0.50 to $1.00/share. Given the hefty 3.5% yield, the increase in dividend should attract a new set of income oriented investors.