It literally translates to "no wine", but depending on context, it can also be understood as:
* "I don't want wine": This is the most common meaning if someone is offering wine.
* "There is no wine": This meaning is relevant when talking about availability.
For example:
* "No vino, gracias": "No wine, thank you."
* "No vino en la bodega": "There is no wine in the cellar."