Wynn Resorts (WYNN - Get Report) is another name that's enjoying some relative strength right now; the casino resort operator is already up more than 10% in 2013. Wynn's massive properties -- two in Las Vegas and two in China -- are among the most profitable in the industry, courting high rollers with their luxury appeal and relatively new construction. The addition of a new resort in Cotai should be a very material addition to the firm's existing business.
Despite its success in Las Vegas, Wynn's real bread and butter is in Macau, the Chinese special district where gaming attracts high-end Asian clientele. More than two-thirds of Wynn's revenues come from Macau, in spite of the fact that a turnaround in Vegas has been coming in at full speed over the last year and change. With only six casino licenses granted in China right now, the chances of a new challenger unseating Wynn look slim.While the addition of more luxury rooms to the supply in Las Vegas does threaten Wynn's pull in 2013 (Macau and Cotai are already heavily skewed toward the higher-end of the gaming spectrum), the resort has already established its niche in the Vegas strip. Opening megaresorts is hugely capital intense, but Wynn sports a reasonably strong balance sheet and ample cash generation capabilities. With 1.61% dividend yield in play right now, the firm can afford to hike its dividend payout in 2013. Keep an eye out for the annual shareholder meeting on Feb. 22.