Investors in Wynn Resorts ( NASDAQ: WYNN ) started 2016 on a good note, following a terrible performance in 2015, a year in which shares lost two thirds of their value. Shares did bounce last week on the back of a somewhat comforting outlook for the fourth quarter, as some form of optimism might be building surrounding the stock in recent weeks. While shares remain risky given the debt load and exposure to China, there are some bright spots. A great deal of bad news has been priced in already as the opening of the Wynn Palace in Macau will greatly enhance EBITDA, and thereby reduce relative leverage ratios. That means that long term investors with a high tolerance for risk could place a bet on the company. For those who are not comfortable with the exposure to China, it is possible to bet on Wynn Las Vegas. This can be done by buying Wynn, while shorting Wynn Macau which actually has a listing on US markets as well.