Macau Issues Weigh Heavily on Wynn Resorts

Wynn Resorts (NASDAQ: WYNN) is suffering from casino cannibalization in Macau: Its new Wynn Palace on the Cotai Strip, which is geared more toward mass-market visitors, has been siphoning off gamblers from its older location, Wynn Macau. The casino operator reported third-quarter results showing net revenues of $1.11 billion, up 11% from the $996.3 million it generated in the same period last year, primarily the result of opening the Palace in August. …read more

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Category: WYNN, LVS

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