Wynn Resorts Ltd. of Las Vegas is the second-most admired company in the hotels, casinos and resorts industry, according to new Fortune magazine rankings.
That’s an improvement from Wynn’s No. 4 ranking last year, with Fortune this year giving Wynn No. 1 industry rankings in the subcategories of innovation and quality of products and services.
The Fortune rankings are based on surveys that likely were completed before litigation erupted between Wynn Resorts and ousted shareholder Kazuo Okada — a legal fight that some analysts say could scar both sides.
Prior to the Okada story breaking in January, Wynn was believed to be on track to earn an investment grade debt rating, a rarity in the debt-laden casino industry.
That’s because of CEO Steve Wynn’s record of generating handsome profits and his successful move in to the China casino market while keeping debt under control.
For its March 19 issue, Fortune named five companies in the industry to the Most Admired list.
They are, in order, Wyndham Worldwide, Wynn, Starwood Hotels & Resorts, Hyatt Hotels and Marriott International.
Fortune also named four industry “Contenders.”
They are, in order, Las Vegas Sands Corp., MGM Resorts International, Accor and Caesars Entertainment Corp.
Fortune, which uses surveys of business people to compile its rankings, said Apple topped its overall list of the world’s most admired companies for the fifth consecutive year.
Fortune said its lists are based on surveys conducted by its partner, the Hay Group, of executives, directors and analysts.
Survey participants are asked to rank companies in their own industry on nine criteria ranging from investment value to social responsibility, Fortune said.
Fortune said 3,855 executives, directors, and securities analysts also participated in a separate survey to rank the world’s 50 most admired companies. In that survey, they could vote for any company in any industry.
That explains why Marriott, ranked fifth in the industry list, is the only hotel company on the top 50 list, coming in at No. 40.
Marriott is a big player in the Las Vegas tourism industry, with hotels and timeshares under various brands.
Another important company locally, Southwest Airlines, ranked No. 10 on the overall list of the world’s 50 most admired companies.
And Amazon.com, parent of Henderson-based Zappos.com, was ranked No. 3 overall and No. 2 in the category of Internet Services and Retailing.