WYNN vs RGEN Comparison

Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, and Encore Boston Harbor in Massachusetts opened June 2019. We expect the company to continue to build nongaming rooms and attractions in Macao over the next few years, including a new 432-suite tower adjacent to its Palace resort opening in 2029. We model Wynn's managed integrated resort in the United Arab Emirates to open in 2027. The company received 49% and 51% of its 2025 prepandemic EBITDA from Macao and the US, respectively.

Repligen, headquartered in Waltham, Massachusetts, is a global life sciences company that develops and sells bioprocessing equipment and supplies used in the manufacturing of biologic drugs, including monoclonal antibodies, recombinant proteins, vaccines, and cell and gene therapies. Its customers include biopharmaceutical companies, contract development and manufacturing organizations, and other life science companies. It sells four main product categories: filtration and fluid management is the largest category (about 55% of total revenue), while chromatography, proteins, and process analytics are 21%, 11%, and 13%, respectively. Customers in North America, Europe, and Asia-Pacific contribute about 44%, 37%, and 19% of revenue, respectively.