Shares of Wynn Resorts, Limited (WYNN) had pocket aces in Friday's trading session, closing higher by 5.46% to $188.89.
Wynn stock is now up a robust 16% over the past five trading sessions. It's one good piece of news after the other right now, TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment.
Recent updates from the company are helping to fuel the run in its stock price.
For instance, management told investors that the search is underway to replace the two board members that recently stepped down. Further, the company upped its quarterly dividend to 75 cents per share, up a whopping 50% from the 50 cents per share it was previously paying out.
Don't worry, there's more.
The trends in Las Vegas remain positive, management said, while Wynn's EBTIDA results in Macau were better than expected. Wynn also announced a $2.6 billion settlement on a six-year-old lawsuit from Universal Entertainment Corp. Wynn settled at a good price, according to Cramer, who also manages the Action Alerts PLUS charitable trust portfolio.
These recent developments gives Wynn "optionality," he added, which is market-speak for M&A.
"I think Wynn is going to be bought," Cramer said. This could include all of Wynn -- which currently commands a market cap of $19.5 billion -- or it could be for regional assets, like Las Vegas or Macau, he concluded.
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